Wealth Enhancement Advisory Services LLC Acquires New Stake in Circle Internet Group, Inc. $CRCL

Key Points

• Wealth Enhancement Advisory Services LLC acquired 3,567 shares in Circle Internet Group, valued at approximately $673,000 during the 2nd quarter.
• Several institutional investors including Westbourne Investments and Brand Asset Management Group have also purchased new stakes in Circle Internet Group within the same timeframe.
• Insider transactions showed that Circle Internet Group Director Rajeev V. Date and insider Nikhil Chandhok sold a combined 83,400 shares, indicating a reduction in their ownership positions by 11.84% and 8.61% respectively.

Wealth Enhancement Advisory Services LLC acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,567 shares of the company's stock, valued at approximately $673,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Westbourne Investments Inc. bought a new stake in Circle Internet Group during the 2nd quarter worth about $204,000. Brand Asset Management Group Inc. bought a new stake in Circle Internet Group during the 2nd quarter worth about $272,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Circle Internet Group during the 2nd quarter worth about $1,083,000.

Insider Activity

In other Circle Internet Group news, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. This represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nikhil Chandhok sold 50,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the transaction, the insider owned 530,803 shares in the company, valued at approximately $67,454,445.24. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Circle Internet Group Stock Performance

Shares of CRCL opened at $145.81 on Friday. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99. The firm has a market cap of $33.45 billion and a price-to-earnings ratio of -11,522.92. The firm has a 50-day moving average of $140.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRCL shares. JPMorgan Chase & Co. boosted their price target on shares of Circle Internet Group from $80.00 to $89.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 19th. Barclays started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "overweight" rating and a $215.00 price target on the stock. Baird R W raised shares of Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. Canaccord Genuity Group reissued a "buy" rating and set a $247.00 price target on shares of Circle Internet Group in a research report on Thursday, September 11th. Finally, Redburn Partners set a $136.00 price target on shares of Circle Internet Group in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and an average price target of $165.54.

Circle Internet Group Company 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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