Circle Internet Group, Inc. $CRCL Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management increased its stake in Circle Internet Group by 17.8% in the fourth quarter, bringing its holdings to 255,222 shares worth about $20.2 million.
• Several other institutions also added major positions in CRCL, including new or expanded stakes from General Catalyst, IDG Accel China, Accel XI, Vanguard, and Renaissance Technologies.
• Circle shares fell 5.7% to $75.36, while insider selling continued: CEO-related executives sold shares in June, and insiders sold 1.4 million shares worth about $118.9 million last quarter.

Rockefeller Capital Management L.P. lifted its stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 255,222 shares of the company's stock after buying an additional 38,567 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.11% of Circle Internet Group worth $20,239,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. General Catalyst Group Management LLC acquired a new position in Circle Internet Group in the second quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. acquired a new stake in shares of Circle Internet Group during the 4th quarter worth approximately $554,792,000. Accel XI Associates L.L.C. purchased a new position in shares of Circle Internet Group during the 4th quarter valued at approximately $513,844,000. Vanguard Group Inc. increased its holdings in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Circle Internet Group in the 4th quarter valued at $163,948,000.

Insider Buying and Selling

In other news, insider Hossein Razzaghi sold 34,623 shares of the firm'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 value of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at $52,545,955.40. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the completion of the transaction, the president owned 502,558 shares in the company, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,405,984 shares of company stock worth $118,860,837 in the last quarter. 10.85% of the stock is owned by insiders.

Circle Internet Group Stock Down 5.7%

CRCL opened at $75.36 on Wednesday. The firm's fifty day simple moving average is $100.43 and its two-hundred day simple moving average is $90.13. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $265.00. The company has a market cap of $18.73 billion and a price-to-earnings ratio of -23.55.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRCL. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. KeyCorp initiated coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They set a "sector weight" rating on the stock. Compass Point restated a "sell" rating and set a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Finally, Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.

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