Harvest Portfolios Group Inc. Boosts Stock Holdings in Circle Internet Group, Inc. $CRCL

Key Points

• Harvest Portfolios Group Inc. dramatically increased its stake in Circle Internet Group by 6,255.2% in the fourth quarter, ending with 535,683 shares valued at about $42.48 million.
• Circle reported Q1 earnings of $0.21 per share, missing the $0.27 consensus estimate, even though revenue rose 20% year over year to $694.13 million.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with a $137.12 average price target, while insiders have also been selling shares in recent months.

Harvest Portfolios Group Inc. lifted its position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 6,255.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 535,683 shares of the company's stock after acquiring an additional 527,254 shares during the period. Harvest Portfolios Group Inc. owned approximately 0.23% of Circle Internet Group worth $42,480,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group in the 2nd quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group in the 3rd quarter valued at approximately $27,000. Montag A & Associates Inc. bought a new position in Circle Internet Group in the 3rd quarter valued at approximately $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Circle Internet Group in the 3rd quarter valued at approximately $35,000.

Circle Internet Group Trading Down 0.0%

Shares of CRCL opened at $111.36 on Wednesday. The firm has a market cap of $27.48 billion and a PE ratio of -34.80. The firm has a fifty day simple moving average of $107.18 and a two-hundred day simple moving average of $89.47. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its 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 for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, research analysts forecast that Circle Internet Group, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. JPMorgan Chase & Co. lowered their price objective on Circle Internet Group from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 10th. Compass Point reaffirmed a "sell" rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. Finally, Needham & Company LLC upped their price objective on Circle Internet Group from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $137.12.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 4,238 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $107.10, for a total transaction of $453,889.80. Following the completion of the sale, the chief financial officer directly owned 355,611 shares in the company, valued at approximately $38,085,938.10. The trade was a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Rajeev V. Date sold 3,819 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $115.00, for a total transaction of $439,185.00. Following the sale, the director owned 152,328 shares of the company's stock, valued at approximately $17,517,720. This represents a 2.45% 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. In the last 90 days, insiders sold 618,664 shares of company stock worth $60,410,221. 10.85% of the stock is owned by corporate insiders.

Circle Internet Group Profile

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.

Want to see what other hedge funds are holding CRCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Circle Internet Group, Inc. (NYSE:CRCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.