Rheos Capital Works Inc. Takes $45.32 Million Position in Circle Internet Group, Inc. $CRCL

Key Points

• Rheos Capital Works Inc. has acquired a new position in Circle Internet Group, purchasing 250,000 shares worth approximately $45.32 million, making it the 12th largest position in their portfolio.
• Several analysts have issued mixed ratings on Circle Internet Group, with one strong buy, five buys, ten holds, and four sells, while the average target price is $165.54.
• Insiders notably sold a total of 831,014 shares of Circle Internet Group stock worth over $105 million in the last quarter, indicating significant shareholder activity.

Rheos Capital Works Inc. acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 250,000 shares of the company's stock, valued at approximately $45,323,000. Circle Internet Group comprises 2.6% of Rheos Capital Works Inc.'s portfolio, making the stock its 12th largest position. Rheos Capital Works Inc. owned about 0.11% of Circle Internet Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in Circle Internet Group during the 2nd quarter valued at $34,000. Hennessy Advisors Inc. bought a new position in shares of Circle Internet Group during the second quarter valued at $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Circle Internet Group during the second quarter valued at $79,000. CWM LLC purchased a new stake in shares of Circle Internet Group during the second quarter valued at $115,000. Finally, Westbourne Investments Inc. bought a new stake in Circle Internet Group in the 2nd quarter worth about $204,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of Circle Internet Group in a research note on Friday, September 12th. They set a "market perform" rating on the stock. Citizens Jmp started coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They set a "market perform" rating for the company. Weiss Ratings restated a "sell (d)" rating on shares of Circle Internet Group in a research report on Wednesday, October 8th. Redburn Partners set a $136.00 target price on shares of Circle Internet Group in a research report on Friday, October 3rd. Finally, Mizuho set a $85.00 target price on shares of Circle Internet Group in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $165.54.

Insider Buying and Selling

In related news, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the transaction, the chief financial officer directly owned 297,823 shares in the company, valued at approximately $36,170,603.35. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Allaire sold 357,812 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $45,470,748.96. The disclosure for this sale can be found here. Insiders sold 831,014 shares of company stock worth $105,416,046 in the last quarter.

Circle Internet Group Stock Performance

CRCL opened at $134.70 on Wednesday. The business has a 50 day simple moving average of $136.03. The stock has a market capitalization of $30.90 billion and a P/E ratio of -10,645.01. Circle Internet Group, Inc. has a 12-month low of $64.00 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($4.82). The business had revenue of $658.08 million for the quarter, compared to analyst estimates of $645.35 million. The business's quarterly revenue was up 53.0% compared to the same quarter last year.

Circle Internet Group Company 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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