CloudAlpha Capital Management Limited Hong Kong boosted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 181.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 283,964 shares of the company's stock after buying an additional 182,954 shares during the quarter. Circle Internet Group accounts for about 1.4% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 13th largest holding. CloudAlpha Capital Management Limited Hong Kong owned about 0.12% of Circle Internet Group worth $37,648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter worth $3,647,694,000. Marshall Wace LLP purchased a new stake in Circle Internet Group in the second quarter valued at $1,547,214,000. ARK Investment Management LLC purchased a new stake in Circle Internet Group in the second quarter valued at $530,165,000. Sumitomo Mitsui Trust Group Inc. grew its position in Circle Internet Group by 282.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company's stock worth $172,271,000 after purchasing an additional 959,309 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $73,101,000.
Circle Internet Group Price Performance
Shares of NYSE:CRCL opened at $60.07 on Tuesday. The business's 50 day moving average price is $77.25 and its 200-day moving average price is $109.84. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The firm has a market capitalization of $14.15 billion and a price-to-earnings ratio of -26.23.
Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million for the quarter. The firm's revenue was up 65.9% compared to the same quarter last year.
Insider Activity at Circle Internet Group
In related news, CFO Jeremy Fox-Geen sold 23,830 shares of the firm's stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,144,700.00. Following the transaction, the chief financial officer directly owned 282,173 shares of the company's stock, valued at approximately $25,395,570. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rajeev V. Date sold 190,867 shares of Circle Internet Group stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $83.58, for a total value of $15,952,663.86. Following the completion of the sale, the director owned 127,247 shares in the company, valued at approximately $10,635,304.26. The trade was a 60.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 723,616 shares of company stock worth $58,631,542 in the last quarter.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Circle Internet Group from $160.00 to $128.00 and set an "overweight" rating on the stock in a research note on Thursday, November 13th. William Blair reissued an "outperform" rating on shares of Circle Internet Group in a report on Wednesday, November 12th. HC Wainwright started coverage on Circle Internet Group in a research report on Friday, December 19th. They issued a "neutral" rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Circle Internet Group from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $94.00 to $100.00 in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Circle Internet Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of "Hold" and a consensus target price of $132.35.
Get Our Latest Research Report on CRCL
Circle Internet Group Company Profile
(
Free Report)
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 USD Coin (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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