Telligent Fund LP Buys Shares of 18,000 Circle Internet Group, Inc. $CRCL

Key Points

• Telligent Fund LP opened a new position in Circle Internet Group by buying 18,000 shares worth about $3.26 million, making CRCL 3.0% of the fund and its 15th largest holding.
• Significant insider selling occurred recently: CFO Jeremy Fox‑Geen sold 33,608 shares (~$4.08M) and Director Rajeev V. Date sold 190,867 shares (~$15.95M), with insiders disposing of 397,208 shares (~$34.4M) over the past quarter.
• Circle reported stronger-than-expected quarterly results (EPS $0.64 vs. $0.20 estimate; revenue $739.8M, +65.9% YoY) but the stock is down about 9.1% and carries a MarketBeat consensus rating of "Hold" with an average target of $150.53.

Telligent Fund LP purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,000 shares of the company's stock, valued at approximately $3,263,000. Circle Internet Group comprises 3.0% of Telligent Fund LP's investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brand Asset Management Group Inc. acquired a new stake in Circle Internet Group during the 2nd quarter worth approximately $272,000. Westbourne Investments Inc. bought a new position in shares of Circle Internet Group during the second quarter valued at $204,000. Baader Bank Aktiengesellschaft bought a new position in shares of Circle Internet Group during the second quarter valued at $1,083,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Circle Internet Group during the second quarter worth $673,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Circle Internet Group in the second quarter worth $18,397,000.

Insider Activity at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 33,608 shares of the stock in a transaction on Wednesday, September 3rd. The shares were 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 of the company's stock, valued at $36,170,603.35. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajeev V. Date sold 190,867 shares of Circle Internet Group stock in a transaction on Friday, November 14th. The shares were sold at an average price of $83.58, for a total transaction of $15,952,663.86. Following the completion of the sale, the director directly owned 127,247 shares of the company's stock, valued at approximately $10,635,304.26. This trade represents a 60.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 397,208 shares of company stock worth $34,424,981 over the last quarter.

Wall Street Analyst Weigh In

CRCL has been the topic of several recent research reports. Wells Fargo & Company cut their target price on Circle Internet Group from $160.00 to $128.00 and set an "overweight" rating on the stock in a report on Thursday, November 13th. Oppenheimer started coverage on Circle Internet Group in a research note on Friday, September 12th. They issued a "market perform" rating on the stock. Needham & Company LLC decreased their target price on shares of Circle Internet Group from $250.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, November 13th. Weiss Ratings restated a "sell (d)" rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Finally, Mizuho dropped their price target on shares of Circle Internet Group from $84.00 to $70.00 and set an "underperform" rating on the stock in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and an average target price of $150.53.

Circle Internet Group Stock Down 9.1%

NYSE CRCL opened at $69.65 on Thursday. The business's 50 day simple moving average is $124.37. Circle Internet Group, Inc. has a one year low of $64.00 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The company's revenue for the quarter was up 65.9% compared to the same quarter last year.

Circle Internet Group 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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