Fulcrum Asset Management LLP Purchases 50,959 Shares of Circle Internet Group, Inc. $CRCL

Key Points

• Fulcrum Asset Management initiated a position in Circle Internet Group during the third quarter, buying 50,959 shares valued at approximately $4.27 million.
• Circle reported quarterly EPS of $0.84, beating the $0.42 consensus estimate, while revenue rose 16.9% year over year to $864.9 million.
• Analyst views remain mixed: MarketBeat’s consensus rating is “Hold,” with a $91.44 target price. Insiders sold 405,204 shares worth about $35.1 million over the past 90 days.

Fulcrum Asset Management LLP acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 50,959 shares of the company's stock, valued at approximately $4,265,000.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new position in Circle Internet Group during the first quarter worth about $35,000. Pinnacle Wealth Planning Services Inc. increased its stake in Circle Internet Group by 952.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 379 shares of the company's stock worth $31,000 after acquiring an additional 343 shares during the last quarter. Abound Financial LLC bought a new position in Circle Internet Group in the 1st quarter worth about $38,000. Global Assets Advisory LLC purchased a new stake in shares of Circle Internet Group in the 1st quarter valued at about $43,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $45,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRCL. Keefe, Bruyette & Woods dropped their price target on Circle Internet Group from $105.00 to $90.00 and set a "market perform" rating for the company in a research report on Thursday, November 5th. Wells Fargo & Company decreased their price objective on shares of Circle Internet Group from $115.00 to $101.00 and set an "overweight" rating on the stock in a research report on Thursday, November 5th. Canaccord Genuity Group decreased their price objective on shares of Circle Internet Group from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. HC Wainwright lowered their target price on shares of Circle Internet Group from $104.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, November 5th. Finally, BMO Capital Markets assumed coverage on shares of Circle Internet Group in a research report on Thursday. They set an "outperform" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $91.44.

Insider Transactions at Circle Internet Group

In other news, Director Patrick Neville sold 50,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $92.09, for a total transaction of $4,604,500.00. Following the transaction, the director directly owned 2,018 shares in the company, valued at approximately $185,837.62. This represents a 96.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,668 shares of the firm's stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $79.59, for a total value of $2,122,506.12. Following the transaction, the insider directly owned 715,331 shares in the company, valued at approximately $56,933,194.29. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 405,204 shares of company stock valued at $35,099,511 over the last 90 days. Company insiders own 10.85% of the company's stock.

Circle Internet Group Stock Down 0.4%

CRCL opened at $67.62 on Tuesday. The stock has a market cap of $17.17 billion, a PE ratio of 45.85 and a beta of 0.84. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $140.00. The business's fifty day simple moving average is $85.06 and its 200 day simple moving average is $85.61.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.42. Circle Internet Group had a return on equity of 13.52% and a net margin of 15.27%. The firm had revenue of $864.89 million during the quarter. During the same period last year, the firm earned $0.64 EPS. The company's revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities analysts anticipate that Circle Internet Group, Inc. will post 1.20 earnings per share for the current year.

Circle Internet Group Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications.

Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.

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