Jupiter Asset Management Ltd. Purchases New Shares in Circle Internet Group, Inc. $CRCL

Jupiter Asset Management Ltd. purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 38,140 shares of the company’s stock, valued at approximately $5,057,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRCL. JPMorgan Chase & Co. bought a new stake in shares of Circle Internet Group during the second quarter worth approximately $65,261,000. Rakuten Securities Inc. acquired a new stake in Circle Internet Group during the 3rd quarter worth $2,491,000. Telligent Fund LP bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $3,263,000. CloudAlpha Capital Management Limited Hong Kong raised its position in shares of Circle Internet Group by 181.1% during the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock valued at $37,648,000 after acquiring an additional 182,954 shares during the last quarter. Finally, Rheos Capital Works Inc. lifted its stake in shares of Circle Internet Group by 20.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 302,000 shares of the company’s stock valued at $40,039,000 after purchasing an additional 52,000 shares during the period.

Insider Activity

In other Circle Internet Group news, CEO Jeremy Allaire sold 7,055 shares of Circle Internet Group stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total value of $635,443.85. Following the transaction, the chief executive officer owned 70,517 shares of the company’s stock, valued at approximately $6,351,466.19. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Heath Tarbert sold 3,048 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.02, for a total transaction of $274,380.96. Following the completion of the transaction, the president owned 579,302 shares of the company’s stock, valued at $52,148,766.04. This trade represents a 0.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 353,016 shares of company stock worth $27,791,982.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRCL shares. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th. Sanford C. Bernstein set a $190.00 target price on Circle Internet Group in a research report on Tuesday, January 6th. Needham & Company LLC lowered their price target on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and an average price target of $131.76.

Circle Internet Group Price Performance

NYSE CRCL opened at $63.07 on Friday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The firm has a market cap of $14.85 billion and a P/E ratio of -27.54. The stock’s 50-day moving average is $72.74 and its 200-day moving average is $102.94.

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.