Circle Internet Group, Inc. $CRCL Shares Purchased by Weil Company Inc.

Weil Company Inc. raised its position in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 147.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,499 shares of the company’s stock after purchasing an additional 9,823 shares during the quarter. Weil Company Inc.’s holdings in Circle Internet Group were worth $1,356,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Circle Internet Group in the first quarter valued at $31,000. First Horizon Corp bought a new position in Circle Internet Group during the first quarter valued at about $35,000. Abound Financial LLC bought a new position in Circle Internet Group during the first quarter valued at about $38,000. Global Assets Advisory LLC bought a new position in Circle Internet Group during the first quarter valued at about $43,000. Finally, GAMMA Investing LLC boosted its stake in Circle Internet Group by 28.6% during the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock valued at $45,000 after buying an additional 159 shares in the last quarter.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Circle Internet Group from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Susquehanna reissued a “neutral” rating on shares of Circle Internet Group in a report on Tuesday, September 29th. Mizuho set a $45.00 price target on shares of Circle Internet Group and gave the company a “neutral” rating in a report on Friday, July 31st. Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research report on Wednesday, July 15th. Finally, Raymond James Financial started coverage on shares of Circle Internet Group in a research note on Tuesday, July 21st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and a consensus price target of $97.82.

Insider Buying and Selling

In related news, Director Danita K. Ostling sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $61.65, for a total value of $1,233,000.00. Following the completion of the sale, the director owned 4,608 shares in the company, valued at approximately $284,083.20. This represents a 81.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $62.03, for a total transaction of $3,486,086.00. Following the completion of the sale, the chief executive officer owned 398,179 shares of the company’s stock, valued at approximately $24,699,043.37. This trade represents a 12.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 485,657 shares of company stock valued at $39,207,306. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Down 5.5%

NYSE:CRCL opened at $79.60 on Thursday. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $147.44. The firm has a market capitalization of $20.21 billion, a price-to-earnings ratio of 57.72 and a beta of 0.73. The stock has a fifty day simple moving average of $85.36 and a 200 day simple moving average of $86.69.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The company had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.48) earnings per share. Equities analysts predict that Circle Internet Group, Inc. will post 1.10 earnings per share for the current year.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.