Endowment Wealth Management Inc. Acquires New Holdings in Circle Internet Group, Inc. $CRCL

Key Points

• Endowment Wealth Management Inc. purchased 100,000 shares of Circle Internet Group, Inc. (CRCL) in Q2, making it the largest holding in their portfolio, valued at approximately $18.1 million.
• Wall Street analysts have mixed opinions on CRCL, with ratings ranging from Strong Buy to Sell, and an average price target of $165.54.
• In insider transactions, CEO Jeremy Allaire sold over 357,000 shares for nearly $45.5 million, while insiders collectively sold a total of 831,014 shares worth $105.4 million in the last quarter.

Endowment Wealth Management Inc. bought a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the company's stock, valued at approximately $18,129,000. Circle Internet Group comprises 9.3% of Endowment Wealth Management Inc.'s portfolio, making the stock its largest holding.

A number of other hedge funds have also modified their holdings of CRCL. Covenant Asset Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter valued at approximately $363,000. Gainplan LLC acquired a new position in shares of Circle Internet Group in the second quarter worth $906,000. PFG Investments LLC purchased a new stake in shares of Circle Internet Group in the second quarter valued at $579,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $1,083,000. Finally, KG&L Capital Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth approximately $528,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRCL. Compass Point lowered Circle Internet Group from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $205.00 to $130.00 in a research note on Monday, July 21st. JMP Securities initiated coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They issued a "market perform" rating for the company. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research note on Wednesday, October 8th. Finally, Baird R W upgraded Circle Internet Group to a "hold" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $165.54.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CEO Jeremy Allaire sold 357,812 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $45,470,748.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Sean Neville sold 260,374 shares of Circle Internet Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 in the last quarter.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $133.84 on Monday. The firm has a market capitalization of $30.71 billion and a P/E ratio of -10,576.73. The company has a 50 day moving average of $136.95. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($4.82). The firm had revenue of $658.08 million for the quarter, compared to the consensus estimate of $645.35 million. Circle Internet Group's quarterly revenue was up 53.0% on a year-over-year basis.

About Circle Internet Group

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.

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