Circle Internet Group, Inc. $CRCL Shares Purchased by Cambient Family Office LLC

Key Points

• Cambient Family Office LLC increased its stake in Circle Internet Group by 291.9% in the first quarter, ending with 18,585 shares valued at about $1.77 million.
• Other institutional investors also added to or established positions in CRCL, including large moves from Rockefeller Capital Management, Sumitomo Mitsui Trust Group, and Amova Asset Management, signaling continued institutional interest.
• Wall Street remains mixed but generally constructive: analysts have an average rating of “Hold” with an average price target of $134.18, while the stock recently traded at $73.55 after Circle reported Q1 EPS of $0.21, below estimates.

Cambient Family Office LLC lifted its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 291.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,585 shares of the company's stock after buying an additional 13,843 shares during the quarter. Cambient Family Office LLC's holdings in Circle Internet Group were worth $1,773,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRCL. Rockefeller Capital Management L.P. raised its holdings in shares of Circle Internet Group by 17.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company's stock worth $20,239,000 after purchasing an additional 38,567 shares during the period. Travelers Companies Inc. bought a new position in Circle Internet Group during the 4th quarter worth $9,557,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Circle Internet Group by 98.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company's stock worth $204,252,000 after buying an additional 1,276,310 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Circle Internet Group in the fourth quarter worth $25,027,000. Finally, Amova Asset Management Americas Inc. lifted its stake in Circle Internet Group by 222.1% in the third quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company's stock valued at $171,453,000 after buying an additional 892,359 shares during the last quarter.

Wall Street Analysts Forecast Growth

CRCL has been the subject of several recent research reports. Needham & Company LLC upped their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Robert W. Baird lifted their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. William Blair reissued an "outperform" rating on shares of Circle Internet Group in a research note on Thursday, June 11th. Zacks Research upgraded shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Finally, HC Wainwright upgraded shares of Circle Internet Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $85.00 to $150.00 in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $134.18.

Circle Internet Group Stock Performance

NYSE CRCL opened at $73.55 on Friday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $262.97. The stock has a market capitalization of $18.28 billion and a PE ratio of -22.98. The stock has a 50-day simple moving average of $98.51 and a 200 day simple moving average of $89.78.

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

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, insider Hossein Razzaghi sold 34,623 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares of the company's stock, valued at approximately $52,545,955.40. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total transaction of $108,205.00. Following the sale, the director directly owned 154,346 shares of the company's stock, valued at approximately $13,119,410. The trade was a 0.82% 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 have sold a total of 1,895,721 shares of company stock worth $154,303,103 over the last ninety days. Company insiders own 10.85% of the company's stock.

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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