CloudAlpha Capital Management Limited Hong Kong Grows Stock Position in Circle Internet Group, Inc. $CRCL

Key Points

• CloudAlpha Capital Management Limited Hong Kong boosted its stake in Circle Internet Group by 142.9% in the fourth quarter, adding 405,664 shares and ending with 689,628 shares valued at about $54.7 million.
• Several other major investors also increased their positions, including Vanguard, ARK Investment Management, and Sumitomo Mitsui Trust Group, while insider selling continued with directors Danita K. Ostling and Rajeev V. Date trimming holdings.
• Circle reported Q1 earnings of $0.21 per share, missing estimates of $0.27, though revenue rose 20% year over year to $694.13 million. Analysts currently rate the stock a consensus Hold with a target price of $137.12.

CloudAlpha Capital Management Limited Hong Kong grew its position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 142.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 689,628 shares of the company's stock after purchasing an additional 405,664 shares during the period. Circle Internet Group comprises about 2.6% of CloudAlpha Capital Management Limited Hong Kong's holdings, making the stock its 9th largest holding. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.29% of Circle Internet Group worth $54,688,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the second quarter worth approximately $3,647,694,000. Vanguard Group Inc. raised its stake in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock worth $448,292,000 after acquiring an additional 74,414 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Circle Internet Group by 1.5% in the 3rd quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company's stock worth $393,357,000 after acquiring an additional 42,537 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Circle Internet Group by 98.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company's stock worth $204,252,000 after acquiring an additional 1,276,310 shares during the last quarter. Finally, Amova Asset Management Americas Inc. boosted its stake in shares of Circle Internet Group by 222.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company's stock valued at $171,453,000 after purchasing an additional 892,359 shares in the last quarter.

Insider Buying and Selling

In other Circle Internet Group news, Director Danita K. Ostling sold 1,200 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $132.06, for a total value of $158,472.00. Following the completion of the sale, the director owned 22,590 shares in the company, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rajeev V. Date sold 3,819 shares of Circle Internet Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $115.00, for a total value of $439,185.00. Following the completion of the sale, the director owned 152,328 shares in the company, valued at approximately $17,517,720. This represents a 2.45% decrease in their ownership of the stock. 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 618,664 shares of company stock valued at $60,410,221 over the last ninety days. Corporate insiders own 10.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CRCL. Clear Str raised shares of Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. Wells Fargo & Company upped their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. Zacks Research upgraded Circle Internet Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Finally, Freedom Capital raised Circle Internet Group to a "hold" rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group currently has a consensus rating of "Hold" and a consensus target price of $137.12.

Circle Internet Group Stock Down 0.0%

Shares of NYSE CRCL opened at $111.36 on Wednesday. The firm's fifty day moving average is $107.18 and its 200 day moving average is $89.47. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The company has a market cap of $27.48 billion and a price-to-earnings ratio of -34.80.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly 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). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm had revenue of $694.13 million for the quarter. Circle Internet Group's revenue was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Circle Internet Group, Inc. will post 0.86 earnings per share for the current year.

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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