Capital Fund Management S.A. Invests $56.40 Million in Circle Internet Group, Inc. $CRCL

Capital Fund Management S.A. acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 425,413 shares of the company’s stock, valued at approximately $56,401,000.

Several other institutional investors have also added to or reduced their stakes in CRCL. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Circle Internet Group in the 3rd quarter valued at $32,000. Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the third quarter worth $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Circle Internet Group during the third quarter worth $35,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Wells Fargo & Company decreased their price target on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. The Goldman Sachs Group lifted their price objective on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Morgan Stanley initiated coverage on Circle Internet Group in a research note on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price objective on the stock. Finally, Wolfe Research initiated coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus price target of $123.47.

Circle Internet Group Trading Up 5.3%

Shares of NYSE CRCL opened at $117.81 on Wednesday. The firm has a market capitalization of $27.74 billion and a P/E ratio of -63.34. The firm’s 50-day moving average price is $75.42 and its 200-day moving average price is $97.99. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million during the quarter. Circle Internet Group’s quarterly revenue was up 76.9% compared to the same quarter last year.

Insiders Place Their Bets

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 47,908 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $90.00, for a total value of $4,311,720.00. Following the completion of the sale, the chief financial officer owned 261,059 shares of the company’s stock, valued at approximately $23,495,310. This trade represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 496,816 shares of company stock valued at $45,837,290.

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 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.