Virtu Financial LLC Invests $2.16 Million in Circle Internet Group, Inc. $CRCL

Key Points

• Virtu Financial LLC disclosed a new stake in Circle Internet Group, buying 27,232 shares worth about $2.16 million in the fourth quarter.
• Other big institutional investors also made large moves in CRCL, including new positions from General Catalyst, IDG Accel China Capital II, and Accel XI Associates, while Vanguard boosted its stake by 61.6%.
• Insiders have been selling shares recently, including director Rajeev V. Date and insider Nikhil Chandhok; over the past 90 days, insiders sold 1.42 million shares valued at about $120.1 million.

Virtu Financial LLC bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,232 shares of the company's stock, valued at approximately $2,159,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group during the second quarter worth $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group during the 4th quarter valued at about $554,792,000. Accel XI Associates L.L.C. acquired a new position in Circle Internet Group in the 4th quarter valued at about $513,844,000. Vanguard Group Inc. increased its stake in Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Circle Internet Group during the fourth quarter worth about $163,948,000.

Insider Activity

In related news, Director Rajeev V. Date sold 1,273 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total value of $108,205.00. Following the completion of the transaction, the director directly owned 154,346 shares of the company's stock, valued at $13,119,410. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the completion of the transaction, the insider owned 521,809 shares in the company, valued at $43,701,503.75. This represents a 4.86% decrease in their ownership of the stock. 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 1,415,984 shares of company stock valued at $120,091,637 over the last 90 days. Insiders own 10.85% of the company's stock.

Circle Internet Group Price Performance

NYSE:CRCL opened at $80.46 on Friday. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The firm has a market capitalization of $20.00 billion and a PE ratio of -25.14. The business's fifty day moving average price is $100.79 and its 200 day moving average price is $90.09.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million for the quarter. The firm's revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of research reports. Zacks Research upgraded shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Mizuho dropped their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $101.00 price objective on shares of Circle Internet Group in a research report on Tuesday, May 12th. Robert W. Baird increased their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company lifted their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued 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 an average target price of $134.18.

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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