HighTower Advisors LLC Has $1.97 Million Holdings in Circle Internet Group, Inc. $CRCL

Key Points

• HighTower Advisors LLC reduced its stake in Circle Internet Group by 32.4% in the fourth quarter, leaving it with 24,809 shares valued at about $1.97 million.
• Insiders sold shares recently, including Nikhil Chandhok and Director Patrick Sean Neville, with insiders selling 261,617 shares worth about $27.7 million over the past 90 days.
• Circle reported mixed quarterly results: revenue rose 20% year over year to $694.13 million, but earnings per share of $0.21 missed expectations. Analysts currently rate the stock a consensus Hold with an average target price of $137.12.

HighTower Advisors LLC cut its position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,809 shares of the company's stock after selling 11,894 shares during the quarter. HighTower Advisors LLC's holdings in Circle Internet Group were worth $1,967,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Tucker Asset Management LLC acquired a new stake in shares of Circle Internet Group during the fourth quarter worth $38,000. Mission Wealth Management LP increased its holdings in Circle Internet Group by 219.2% in the fourth quarter. Mission Wealth Management LP now owns 14,903 shares of the company's stock worth $1,182,000 after purchasing an additional 27,401 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of Circle Internet Group during the 4th quarter worth approximately $299,000. Phoenix Financial Ltd. acquired a new stake in shares of Circle Internet Group during the 4th quarter worth approximately $520,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Circle Internet Group during the 4th quarter worth approximately $868,000.

Insider Activity

In related news, insider Nikhil Chandhok sold 10,000 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $123.08, for a total transaction of $1,230,800.00. Following the completion of the sale, the insider owned 540,376 shares in the company, valued at approximately $66,509,478.08. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Patrick Sean Neville sold 30,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total transaction of $2,941,200.00. Following the sale, the director owned 30,000 shares of the company's stock, valued at $2,941,200. This trade represents a 50.00% 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 sold 261,617 shares of company stock valued at $27,670,808 over the last ninety days. Company insiders own 10.85% of the company's stock.

Circle Internet Group Price Performance

CRCL opened at $104.85 on Tuesday. The company's 50-day moving average is $105.10 and its 200 day moving average is $89.38. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The firm has a market capitalization of $26.06 billion and a P/E ratio of -32.76.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly 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). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm had revenue of $694.13 million for the quarter. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities research analysts expect that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRCL shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on shares of Circle Internet Group from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Tuesday, February 10th. Compass Point reaffirmed a "sell" rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Freedom Capital raised shares of Circle Internet Group to a "hold" rating in a research note on Tuesday, April 21st. Finally, Mizuho lifted their price target on shares of Circle Internet Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and an average target price of $137.12.

Circle Internet Group Company 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.

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