VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 38,458 Circle Internet Group, Inc. $CRCL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,458 shares of the company's stock, valued at approximately $2,409,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter worth about $27,000. Harbour Investments Inc. raised its position in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company's stock valued at $30,000 after purchasing an additional 238 shares during the period. WPG Advisers LLC bought a new stake in shares of Circle Internet Group in the first quarter valued at approximately $31,000. Finally, First Horizon Corp purchased a new stake in shares of Circle Internet Group during the 1st quarter valued at approximately $35,000.

Insiders Place Their Bets

In other Circle Internet Group news, insider Nikhil Chandhok sold 489,737 shares of the company's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total value of $35,442,266.69. Following the transaction, the insider directly owned 521,809 shares in the company, valued at $37,763,317.33. This represents a 48.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Patrick Neville sold 50,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total value of $3,132,500.00. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at approximately $126,427.70. The trade was a 96.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,018,123 shares of company stock valued at $75,708,773 in the last ninety days. Corporate insiders own 10.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRCL shares. Weiss Ratings upgraded shares of Circle Internet Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Mizuho set a $45.00 target price on Circle Internet Group and gave the stock a "neutral" rating in a research report on Friday, July 31st. The Goldman Sachs Group reiterated an "underperform" rating on shares of Circle Internet Group in a research report on Wednesday. TD Cowen boosted their price objective on Circle Internet Group from $82.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group dropped their price objective on Circle Internet Group from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $99.67.

Circle Internet Group Price Performance

Shares of NYSE:CRCL opened at $90.61 on Friday. The firm has a fifty day moving average price of $74.69 and a two-hundred day moving average price of $89.92. The company has a market cap of $23.00 billion, a price-to-earnings ratio of 62.06 and a beta of 0.59. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm had revenue of $701.32 million during the quarter. During the same quarter in the prior year, the firm posted ($4.48) earnings per share. The business's revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that Circle Internet Group, Inc. will post 1.05 EPS for the current fiscal year.

Circle Internet Group Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.

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