Vanguard Group Inc. Buys 2,126,072 Shares of Circle Internet Group, Inc. $CRCL

Key Points

• Vanguard boosted its stake in Circle Internet Group by 61.6% in Q3, buying 2,126,072 shares to hold 5,578,696 shares (about 2.43%) valued at roughly $739.6 million.
• Several large institutions also initiated big positions, notably General Catalyst (~$3.65 billion) and Marshall Wace (~$1.55 billion), indicating substantial institutional interest in CRCL.
• Insiders sold 205,769 shares (~$17.15 million) over the last three months (recent sales at $90), while analysts are mixed with a consensus "Hold" and an average target of $131.76 as the stock trades near $61.

Vanguard Group Inc. increased its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 61.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,578,696 shares of the company's stock after acquiring an additional 2,126,072 shares during the quarter. Vanguard Group Inc. owned about 2.43% of Circle Internet Group worth $739,624,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth $3,647,694,000. Marshall Wace LLP bought a new stake in shares of Circle Internet Group in the second quarter worth about $1,547,214,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 worth $172,271,000 after buying an additional 959,309 shares in the last quarter. Squarepoint Ops LLC bought a new position in Circle Internet Group during the second quarter valued at approximately $73,101,000. Finally, Nikko Asset Management Americas Inc. bought a new position in Circle Internet Group during the second quarter valued at approximately $72,486,000.

Circle Internet Group Trading Down 3.3%

Circle Internet Group stock opened at $60.96 on Tuesday. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99. The firm has a 50-day moving average price of $72.44 and a 200-day moving average price of $101.88. The firm has a market capitalization of $14.36 billion and a PE ratio of -26.62.

Insider Buying and Selling

In other news, insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the insider directly owned 474,974 shares in the company, valued at approximately $42,747,660. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick Sean Neville sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 205,769 shares of company stock worth $17,148,896 over the last three months.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of research reports. Monness Crespi & Hardt assumed coverage on Circle Internet Group in a research note on Monday, November 10th. They issued a "buy" rating and a $150.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Circle Internet Group from $147.00 to $90.00 and set a "hold" rating for the company in a research report on Thursday, November 13th. Robert W. Baird upgraded shares of Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Friday, November 14th. William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Finally, Mizuho set a $77.00 price objective on Circle Internet Group and gave the stock a "neutral" rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $131.76.

Circle Internet Group Profile

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 USD Coin (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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