Circle Internet Group, Inc. $CRCL Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC dramatically increased its stake in Circle Internet Group, boosting its position by 4,329.6% in the fourth quarter to 168,104 shares worth about $13.4 million.
• Insider selling has been notable, including a June 10 sale by insider Hossein Razzaghi and a June 9 sale by director Rajeev V. Date. Over the past three months, insiders have sold 1.4 million shares worth about $118.9 million.
• Circle’s latest results and stock performance remain mixed: the company beat revenue growth expectations with quarterly revenue up 20% year over year, but it missed EPS estimates. The stock opened at $68.69, well below its 52-week high of $262.97, while analysts currently rate it a consensus “Hold.”

Hsbc Holdings PLC increased its position in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 4,329.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 168,104 shares of the company's stock after purchasing an additional 164,309 shares during the period. Hsbc Holdings PLC owned 0.07% of Circle Internet Group worth $13,433,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the second quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares during the period. Montag A & Associates Inc. purchased a new position in shares of Circle Internet Group during the third quarter worth approximately $33,000. National Bank of Canada FI purchased a new position in shares of Circle Internet Group during the third quarter worth approximately $37,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Circle Internet Group during the third quarter worth approximately $39,000.

Insider Buying and Selling

In other Circle Internet Group news, insider Hossein Razzaghi sold 34,623 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total value of $108,205.00. Following the transaction, the director directly owned 154,346 shares of the company's stock, valued at approximately $13,119,410. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,405,984 shares of company stock worth $118,860,837 in the last three months. Company insiders own 10.85% of the company's stock.

Circle Internet Group Stock Performance

CRCL stock opened at $68.69 on Friday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $262.97. The stock has a market capitalization of $17.08 billion and a PE ratio of -21.47. The company has a fifty day moving average of $99.16 and a 200-day moving average of $89.89.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company's quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on CRCL. Compass Point reiterated a "sell" rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Zacks Research raised shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. HC Wainwright upgraded shares of Circle Internet Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $150.00 in a research note on Monday, May 18th. KeyCorp began coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a "sector weight" rating for the company. Finally, Robert W. Baird increased their target price on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $134.18.

Circle Internet Group Profile

Circle Internet Group NYSE: CRCL is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.