Renaissance Capital LLC Sells 21,161 Shares of Circle Internet Group, Inc. $CRCL

Key Points

• Renaissance Capital LLC cut its stake in Circle Internet Group by 41.3% in Q4, selling 21,161 shares and leaving it with 30,047 shares valued at about $2.38 million.
• Significant insider selling occurred recently — insiders disposed of 555,874 shares worth ~$54.0 million in the past 90 days (including director and CFO sales executed under Rule 10b5-1 plans), and insiders now own 10.85% of the company.
• Other large institutions added or initiated positions, notably Vanguard (now 5.58M shares) and Sumitomo Mitsui Trust (now 2.58M shares), while General Catalyst reported a new very large position, indicating growing institutional interest.

Renaissance Capital LLC lowered its stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,047 shares of the company's stock after selling 21,161 shares during the period. Circle Internet Group makes up 1.7% of Renaissance Capital LLC's holdings, making the stock its 20th biggest holding. Renaissance Capital LLC's holdings in Circle Internet Group were worth $2,383,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CRCL. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group in the second quarter worth $3,647,694,000. Vanguard Group Inc. increased its position in shares of Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Circle Internet Group by 98.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company's stock valued at $204,252,000 after buying an additional 1,276,310 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in Circle Internet Group by 222.1% in the third quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company's stock valued at $171,453,000 after buying an additional 892,359 shares in the last quarter. Finally, Clear Street Group Inc. acquired a new stake in Circle Internet Group in the third quarter valued at about $83,785,000.

Insider Activity

In other news, Director M Michele Burns sold 1,666 shares of Circle Internet Group stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $92.38, for a total transaction of $153,905.08. Following the sale, the director directly owned 341,872 shares of the company's stock, valued at approximately $31,582,135.36. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $90.00, for a total value of $381,420.00. Following the sale, the chief financial officer directly owned 363,726 shares in the company, valued at $32,735,340. The trade was a 1.15% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 555,874 shares of company stock valued at $54,031,625. 10.85% of the stock is currently owned by company insiders.

Circle Internet Group Trading Down 0.1%

Shares of CRCL stock opened at $99.55 on Monday. The business's 50-day moving average price is $97.44 and its 200-day moving average price is $91.81. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The firm has a market capitalization of $24.57 billion and a price-to-earnings ratio of -53.52.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The company's revenue for the quarter was up 76.9% compared to the same quarter last year. On average, sell-side analysts predict that Circle Internet Group, Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRCL. Needham & Company LLC reduced their price objective on Circle Internet Group from $190.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a research note on Tuesday, January 6th. Mizuho raised their price objective on Circle Internet Group from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, March 13th. Clear Str raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Circle Internet Group presently has an average rating of "Hold" and an average price target of $127.24.

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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