Liberty Street Advisors Inc. Has $10.31 Million Stock Position in Circle Internet Group, Inc. $CRCL

Key Points

• Liberty Street Advisors cut its stake in Circle by 55.2%, selling 160,200 shares to hold 130,000 shares worth about $10.31 million, making CRCL roughly 17.2% of the firm's portfolio and its third-largest position.
• Corporate insiders have sold heavily recently—about 530,874 shares worth $51.57 million in the past 90 days (including director sales under Rule 10b5‑1 plans)—though insiders still own 10.85% of the company.
• Analysts are mixed: the consensus rating is "Hold" with a $126.41 average target after several price-target cuts and a few raises, while Circle reported revenue up 76.9% year-over-year and an EPS beat for the quarter.

Liberty Street Advisors Inc. trimmed its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 55.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 130,000 shares of the company's stock after selling 160,200 shares during the period. Circle Internet Group makes up about 17.2% of Liberty Street Advisors Inc.'s investment portfolio, making the stock its 3rd biggest position. Liberty Street Advisors Inc. owned 0.06% of Circle Internet Group worth $10,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $27,000. Larson Financial Group LLC lifted its holdings in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Circle Internet Group during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Circle Internet Group during the 3rd quarter worth about $32,000. Finally, Montag A & Associates Inc. bought a new position in shares of Circle Internet Group during the 3rd quarter worth about $33,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Circle Internet Group from $190.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of Circle Internet Group from $128.00 to $111.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Robert W. Baird raised their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. reduced their price objective on shares of Circle Internet Group from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $126.41.

Circle Internet Group Trading Up 11.4%

CRCL opened at $98.08 on Tuesday. The stock has a market capitalization of $24.21 billion and a PE ratio of -52.73. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The firm has a 50-day moving average price of $89.09 and a two-hundred day moving average price of $94.17.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The firm's revenue was up 76.9% on a year-over-year basis.

Insider Transactions at Circle Internet Group

In other news, Director Rajeev V. Date sold 1,273 shares of the firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $95.00, for a total value of $120,935.00. Following the transaction, the director owned 152,328 shares of the company's stock, valued at approximately $14,471,160. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 1,666 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $92.38, for a total transaction of $153,905.08. Following the completion of the transaction, the director directly owned 341,872 shares in the company, valued at $31,582,135.36. This trade represents a 0.48% decrease in their position. 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 ninety days, insiders have sold 530,874 shares of company stock worth $51,566,025. Corporate insiders own 10.85% of the company's stock.

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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