Circle Internet Group, Inc. $CRCL Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Circle Internet Group stake by 416.7% in the third quarter, purchasing 234,870 additional shares to hold 291,231 shares worth approximately $23.93 million.
• Analyst sentiment remains mixed: Circle has an average “Hold” rating and a consensus price target of $97.82, compared with the stock’s reported opening price of $82.23.
• Circle reported quarterly revenue of $701.32 million, up 6.6% year over year, but its $0.18 EPS missed the $0.26 consensus estimate. Insiders also sold $39.2 million of shares over the past three months, primarily under pre-arranged plans to cover tax obligations.

Assenagon Asset Management S.A. lifted its stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 416.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,231 shares of the company's stock after purchasing an additional 234,870 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Circle Internet Group worth $23,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Howard Financial Services LTD. purchased a new stake in Circle Internet Group during the 3rd quarter worth about $237,000. Weil Company Inc. lifted its stake in Circle Internet Group by 147.1% in the third quarter. Weil Company Inc. now owns 16,499 shares of the company's stock worth $1,356,000 after acquiring an additional 9,823 shares during the last quarter. Avaii Wealth Management LLC purchased a new position in Circle Internet Group in the third quarter worth approximately $267,000. GAMMA Investing LLC grew its stake in shares of Circle Internet Group by 23.9% during the third quarter. GAMMA Investing LLC now owns 886 shares of the company's stock worth $73,000 after purchasing an additional 171 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in Circle Internet Group by 293.8% in the third quarter. CoreCap Advisors LLC now owns 9,656 shares of the company's stock valued at $793,000 after buying an additional 7,204 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen downgraded Circle Internet Group from a "sell" rating to a "strong sell" rating in a report on Sunday, October 11th. Compass Point set a $62.00 price objective on Circle Internet Group in a report on Wednesday, July 15th. William Blair reiterated an "outperform" rating on shares of Circle Internet Group in a report on Wednesday, August 5th. Keefe, Bruyette & Woods began coverage on Circle Internet Group in a research report on Tuesday, September 8th. They set a "market perform" rating and a $105.00 target price on the stock. Finally, The Goldman Sachs Group reissued an "underperform" rating on shares of Circle Internet Group in a research report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group has an average rating of "Hold" and an average price target of $97.82.

Circle Internet Group Trading Up 0.0%

Shares of CRCL stock opened at $82.23 on Monday. The company has a market capitalization of $20.88 billion, a P/E ratio of 56.32 and a beta of 0.73. The business's 50 day moving average is $86.15 and its two-hundred day moving average is $86.59. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $147.44.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The company had revenue of $701.32 million for the quarter. During the same period in the previous year, the business earned ($4.48) EPS. Circle Internet Group's revenue was up 6.6% on a year-over-year basis. As a group, equities analysts predict that Circle Internet Group, Inc. will post 1.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Hossein Razzaghi sold 1,830 shares of Circle Internet Group stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $85.78, for a total value of $156,977.40. Following the sale, the insider owned 641,318 shares of the company's stock, valued at $55,012,258.04. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Tamara Schulz sold 1,194 shares of Circle Internet Group stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $85.78, for a total value of $102,421.32. Following the completion of the sale, the chief accounting officer directly owned 94,248 shares in the company, valued at $8,084,593.44. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 485,657 shares of company stock worth $39,207,306. 10.85% of the stock is currently owned by insiders.

Circle Internet Group Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.

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