Oddo BHF Asset Management Sas Acquires New Stake in Circle Internet Group, Inc. $CRCL

Key Points

• Oddo BHF Asset Management Sas disclosed a new fourth-quarter stake in Circle Internet Group, buying 56,062 shares valued at about $4.45 million.
• Several insiders sold shares on June 10 under pre-arranged trading plans, including President Heath Tarbert and insider Hossein Razzaghi; insiders have sold 1.42 million shares worth about $120.1 million over the last quarter.
• Analyst sentiment is mixed, with a consensus rating of "Hold" and an average price target of $134.18, while the company recently reported quarterly revenue growth of 20% but missed EPS estimates.

Oddo BHF Asset Management Sas acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 56,062 shares of the company's stock, valued at approximately $4,446,000.

Several other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group in the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. lifted its position in Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company's stock valued at $154,000 after acquiring an additional 151 shares in the last quarter. 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. Harbour Investments Inc. lifted its position in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company's stock valued at $30,000 after acquiring an additional 238 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new stake in Circle Internet Group in the 3rd quarter valued at $33,000.

Insider Buying and Selling

In other news, President Heath Tarbert sold 39,240 shares of Circle Internet Group stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the completion of the transaction, the president owned 502,558 shares of the company's stock, valued at $40,943,400.26. This trade represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the completion of the transaction, the insider directly owned 666,404 shares of the company's stock, valued at approximately $52,545,955.40. This trade represents a 4.94% 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. Over the last quarter, insiders have sold 1,415,984 shares of company stock worth $120,091,637. Corporate insiders own 10.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 17th. Needham & Company LLC raised their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Freedom Capital raised shares of Circle Internet Group to a "hold" rating in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $160.00 price target on shares of Circle Internet Group in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $134.18.

Circle Internet Group Stock Performance

CRCL opened at $79.47 on Wednesday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The firm has a market capitalization of $19.75 billion and a PE ratio of -24.83. The business's 50-day simple moving average is $101.56 and its 200 day simple moving average is $90.11.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million for the quarter. The business's revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

About Circle Internet Group

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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