JPMorgan Chase & Co. Makes New $65.26 Million Investment in Circle Internet Group, Inc. $CRCL

Key Points

• JPMorgan Chase & Co. bought a new position of 359,979 shares of Circle Internet Group (NYSE:CRCL) in Q2, worth about $65.26 million and representing roughly 0.16% ownership.
• Company insiders have been net sellers recently — Director Rajeev V. Date sold 127,247 shares (~$9.2M) and insiders disposed of 551,455 shares totaling about $45.56M in the last quarter.
• Circle beat quarterly EPS estimates, reporting $0.64 vs $0.20 consensus on $739.8M revenue (up 65.9% YoY), while analysts' consensus rating is "Hold" with an average price target of $150.33.

JPMorgan Chase & Co. purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 359,979 shares of the company's stock, valued at approximately $65,261,000. JPMorgan Chase & Co. owned approximately 0.16% of Circle Internet Group at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. North Star Investment Management Corp. bought a new stake in Circle Internet Group in the second quarter worth approximately $34,000. Hennessy Advisors Inc. acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at $36,000. Allworth Financial LP bought a new stake in Circle Internet Group in the second quarter worth $37,000. Chilton Capital Management LLC bought a new stake in Circle Internet Group in the second quarter worth $40,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Circle Internet Group during the second quarter worth $52,000.

Insider Activity

In other Circle Internet Group news, Director Rajeev V. Date sold 127,247 shares of the company's stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $72.29, for a total transaction of $9,198,685.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Danita K. Ostling sold 2,662 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $84.69, for a total value of $225,444.78. Following the sale, the director owned 26,290 shares in the company, valued at approximately $2,226,500.10. This trade represents a 9.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 551,455 shares of company stock worth $45,564,337.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $80.98 on Friday. Circle Internet Group, Inc. has a 1 year low of $64.00 and a 1 year high of $298.99. The business's fifty day moving average is $115.66.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. The firm's revenue was up 65.9% on a year-over-year basis.

Analyst Ratings Changes

Several research firms have recently issued reports on CRCL. Rothschild Redb upgraded Circle Internet Group to a "hold" rating in a research note on Friday, October 3rd. Rothschild & Co Redburn began coverage on Circle Internet Group in a research report on Friday, October 3rd. They set a "neutral" rating and a $136.00 target price for the company. Wall Street Zen upgraded Circle Internet Group from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Circle Internet Group from $147.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, November 13th. Finally, Monness Crespi & Hardt initiated coverage on shares of Circle Internet Group in a research note on Monday, November 10th. They issued a "buy" rating and a $150.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Circle Internet Group presently has an average rating of "Hold" and a consensus price target of $150.33.

Circle Internet Group Profile

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.

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