Exchange Traded Concepts LLC Buys New Shares in Circle Internet Group, Inc. $CRCL

Key Points

• Exchange Traded Concepts LLC acquired approximately $18.40 million in Circle Internet Group, purchasing 101,477 shares of the company's stock.
• Several institutional investors have increased their stakes in Circle Internet Group during the second quarter, indicating a growing interest in the company.
• Circle Internet Group's stock price has seen significant fluctuations, with a 52-week low of $64.00 and a high of $298.99, reflecting its volatile market performance.

Exchange Traded Concepts LLC purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,477 shares of the company's stock, valued at approximately $18,397,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brand Asset Management Group Inc. bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $272,000. Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $204,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $673,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $1,083,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRCL shares. Needham & Company LLC reissued a "buy" rating and set a $250.00 price target on shares of Circle Internet Group in a research report on Monday, September 8th. Citigroup assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued a "buy" rating and a $243.00 target price on the stock. Baird R W upgraded shares of Circle Internet Group to a "hold" rating in a report on Friday, July 11th. Mizuho set a $85.00 target price on shares of Circle Internet Group in a report on Tuesday, August 12th. Finally, Robert W. Baird dropped their target price on shares of Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $170.91.

Insider Buying and Selling at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the transaction, the chief financial officer owned 297,823 shares in the company, valued at $36,170,603.35. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the transaction, the insider owned 530,803 shares in the company, valued at $67,454,445.24. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock traded up $9.22 on Thursday, hitting $140.26. 15,880,218 shares of the company's stock were exchanged, compared to its average volume of 10,184,323. The firm has a 50-day moving average of $156.39. The company has a market capitalization of $32.18 billion and a PE ratio of -11,084.24. Circle Internet Group, Inc. has a 1 year low of $64.00 and a 1 year high of $298.99.

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.