Robeco Institutional Asset Management B.V. Invests $8.72 Million in Circle Internet Group, Inc. $CRCL

Key Points

• Robeco Institutional Asset Management opened a new position in Circle Internet Group (NYSE:CRCL), buying 110,000 shares in Q4 valued at about $8.72 million.
• Circle reported a quarterly EPS beat of $0.43 vs. $0.25 and revenue of $770.23 million, up 76.9% year-over-year, indicating strong top-line growth.
• Company insiders have been net sellers—545,874 shares (~$53.0 million) sold over the last 90 days—while analysts' consensus rating is a Hold with a $126.41 price target.

Robeco Institutional Asset Management B.V. bought a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the company's stock, valued at approximately $8,723,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group during the second quarter worth about $3,647,694,000. Vanguard Group Inc. increased its holdings in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock valued at $739,624,000 after buying an additional 2,126,072 shares during the last quarter. ARK Investment Management LLC increased its holdings in Circle Internet Group by 1.5% in the third quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company's stock valued at $393,357,000 after buying an additional 42,537 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Circle Internet Group by 282.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company's stock valued at $172,271,000 after buying an additional 959,309 shares during the last quarter. Finally, Amova Asset Management Americas Inc. increased its holdings 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 during the last quarter.

Circle Internet Group Stock Up 0.2%

Shares of CRCL stock opened at $105.75 on Thursday. The business has a 50 day moving average of $91.09 and a two-hundred day moving average of $94.10. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The company has a market cap of $26.10 billion and a P/E ratio of -56.85.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its 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 company had revenue of $770.23 million during the quarter. Circle Internet Group's quarterly revenue was up 76.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CRCL shares. Zacks Research raised Circle Internet Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a report on Tuesday, January 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Clear Str raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. Finally, Robert W. Baird boosted their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $126.41.

Insider Buying and Selling

In other Circle Internet Group news, Director M Michele Burns sold 80,000 shares of Circle Internet Group stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $94.88, for a total value of $7,590,400.00. Following the completion of the transaction, the director directly owned 305,230 shares in the company, valued at $28,960,222.40. The trade was a 20.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Fox-Geen sold 47,908 shares of Circle Internet Group stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $4,311,720.00. Following the completion of the transaction, the chief financial officer owned 261,059 shares of the company's stock, valued at approximately $23,495,310. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 545,874 shares of company stock valued at $52,991,625 over the last 90 days. 10.85% of the stock is owned by corporate insiders.

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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