Cynosure Group LLC Purchases Shares of 343,129 Circle Internet Group, Inc. $CRCL

Key Points

• Cynosure Group LLC disclosed a new fourth-quarter stake in Circle Internet Group, buying 343,129 shares valued at about $27.2 million. The position represents 1.3% of its portfolio and makes CRCL its 10th-largest holding.
• Analyst sentiment is mixed, with a MarketBeat average rating of Hold and an average target price of $134.18. Recent moves included Wells Fargo raising its target to $142 with an overweight rating, while Compass Point kept a sell rating.
• Insiders sold shares recently, including sales by Hossein Razzaghi and President Heath Tarbert under pre-arranged 10b5-1 plans. In the last 90 days, insiders sold 1.42 million shares worth about $120.1 million.

Cynosure Group LLC purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 343,129 shares of the company's stock, valued at approximately $27,210,000. Circle Internet Group makes up 1.3% of Cynosure Group LLC's investment portfolio, making the stock its 10th biggest position. Cynosure Group LLC owned 0.15% of Circle Internet Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter worth $27,000. PNC Financial Services Group Inc. grew its stake in shares of Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company's stock worth $154,000 after acquiring an additional 151 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after acquiring an additional 190 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company's stock worth $30,000 after acquiring an additional 238 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of Circle Internet Group in the 3rd quarter worth $33,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CRCL shares. Freedom Capital upgraded shares of Circle Internet Group to a "hold" rating in a research note on Tuesday, April 21st. Wells Fargo & Company upped their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Compass Point reaffirmed 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. Canaccord Genuity Group reiterated a "buy" rating and set a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. Finally, KeyCorp initiated coverage on Circle Internet Group in a research note on Tuesday, May 26th. They set a "sector weight" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $134.18.

Insider Buying and Selling

In related news, insider Hossein Razzaghi sold 34,623 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the transaction, the insider directly owned 666,404 shares of the company's stock, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total transaction of $3,196,882.80. Following the sale, the president directly owned 502,558 shares in the company, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,415,984 shares of company stock worth $120,091,637 in the last ninety days. Corporate insiders own 10.85% of the company's stock.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $83.23 on Tuesday. The company's 50-day moving average is $101.77 and its 200 day moving average is $90.06. The company has a market capitalization of $20.69 billion and a P/E ratio of -26.01. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million during 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% compared to the same quarter last year. As a group, research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

About Circle Internet Group

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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