Krane Funds Advisors LLC Purchases Shares of 8,939 Circle Internet Group, Inc. $CRCL

Krane Funds Advisors LLC acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, Holdings Channel reports. The firm acquired 8,939 shares of the company’s stock, valued at approximately $709,000.

A number of other hedge funds have also made changes to their positions in CRCL. CloudAlpha Capital Management Limited Hong Kong boosted its stake in shares of Circle Internet Group by 181.1% in the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock valued at $37,648,000 after purchasing an additional 182,954 shares during the period. New York State Common Retirement Fund acquired a new position in Circle Internet Group in the 3rd quarter worth $3,248,000. Vanguard Group Inc. lifted its holdings in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares in the last quarter. Travelers Companies Inc. purchased a new position in Circle Internet Group in the 4th quarter valued at about $9,557,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock valued at $204,252,000 after acquiring an additional 1,276,310 shares in the last quarter.

Circle Internet Group Price Performance

Shares of CRCL opened at $80.19 on Monday. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99. The business’s fifty day moving average price is $103.19 and its 200 day moving average price is $89.64. The stock has a market capitalization of $19.93 billion and a PE ratio of -25.06.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, research analysts anticipate that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at $2,941,200. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 11,670 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $112.71, for a total value of $1,315,325.70. Following the sale, the director owned 343,538 shares in the company, valued at $38,720,167.98. The trade was a 3.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 236,617 shares of company stock valued at $25,045,808. 10.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Wells Fargo & Company lifted their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. KeyCorp began coverage on Circle Internet Group in a research report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Mizuho reduced their target price on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus price target of $134.18.

Circle Internet Group Company 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 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.