Endowment Wealth Management Inc. Has $4.92 Million Stock Holdings in Circle Internet Group, Inc. $CRCL

Key Points

• Endowment Wealth Management cut its stake in Circle Internet Group by 37.9% in the fourth quarter, selling 37,952 shares and leaving it with 62,062 shares worth about $4.92 million.
• Several analysts have turned more positive on CRCL, with recent price targets ranging up to $150; despite that, the stock’s overall consensus rating remains Hold with an average target of $137.12.
• Circle reported $0.21 EPS for the latest quarter, missing estimates, while revenue came in at $694.13 million and rose 20% year over year.

Endowment Wealth Management Inc. cut its stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 37.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,062 shares of the company's stock after selling 37,952 shares during the period. Circle Internet Group makes up about 2.3% of Endowment Wealth Management Inc.'s portfolio, making the stock its 11th biggest holding. Endowment Wealth Management Inc.'s holdings in Circle Internet Group were worth $4,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $27,000. PNC Financial Services Group Inc. raised its holdings in shares of Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company's stock worth $154,000 after buying an additional 151 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after buying an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Circle Internet Group during the 3rd quarter worth $27,000. Finally, Harbour Investments Inc. raised its holdings in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company's stock worth $30,000 after buying an additional 238 shares in the last quarter.

Insider Buying and Selling at Circle Internet Group

In related news, CAO Tamara L. Schulz sold 1,194 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $107.10, for a total transaction of $127,877.40. Following the sale, the chief accounting officer owned 90,829 shares in the company, valued at $9,727,785.90. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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, Director M Michele Burns sold 10,000 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total value of $1,201,500.00. Following the sale, the director owned 330,206 shares in the company, valued at $39,674,250.90. This represents a 2.94% 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 628,664 shares of company stock worth $61,520,221 over the last three months. 10.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRCL shares. HC Wainwright raised Circle Internet Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Needham & Company LLC boosted their price target on Circle Internet Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Robert W. Baird boosted their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. KeyCorp started coverage on Circle Internet Group in a report on Tuesday. They set a "sector weight" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Circle Internet Group has a consensus rating of "Hold" and an average target price of $137.12.

Circle Internet Group Stock Down 0.0%

Shares of CRCL stock opened at $113.07 on Tuesday. The firm has a market capitalization of $27.91 billion and a P/E ratio of -35.33. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The stock's fifty day simple moving average is $107.11 and its 200 day simple moving average is $89.28.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings data 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 firm 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 business's revenue for the quarter was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 1.04 EPS for the current fiscal 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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