Circle Internet Group, Inc. $CRCL Shares Acquired by Meridiem Capital Partners LP

Meridiem Capital Partners LP increased its stake in Circle Internet Group, Inc. (NYSE:CRCL) by 141.7% in the third quarter, Holdings Channel reports. The institutional investor owned 120,854 shares of the company’s stock after acquiring an additional 70,854 shares during the quarter. Meridiem Capital Partners LP’s holdings in Circle Internet Group were worth $16,023,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Circle Internet Group during the 3rd quarter worth $47,614,000. Sei Investments Co. acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $607,000. Capital Fund Management S.A. bought a new position in shares of Circle Internet Group during the third quarter worth about $56,401,000. BNP Paribas Financial Markets grew its stake in Circle Internet Group by 427.2% in the third quarter. BNP Paribas Financial Markets now owns 18,795 shares of the company’s stock worth $2,492,000 after purchasing an additional 15,230 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Circle Internet Group in the third quarter worth about $943,000.

Insider Activity at Circle Internet Group

In other news, Director Rajeev V. Date sold 23,254 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $89.62, for a total transaction of $2,084,023.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director M Michele Burns sold 80,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.88, for a total transaction of $7,590,400.00. Following the completion of the sale, the director directly owned 305,230 shares of the company’s stock, valued at $28,960,222.40. The trade was a 20.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 462,567 shares of company stock valued at $43,969,052.

Analysts Set New Price Targets

Several analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, January 21st. Wall Street Zen raised Circle Internet Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Canaccord Genuity Group reduced their price objective on Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, HC Wainwright began coverage on shares of Circle Internet Group in a report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.65.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded up $3.30 during midday trading on Friday, hitting $117.48. 3,784,635 shares of the company’s stock were exchanged, compared to its average volume of 14,612,461. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a market cap of $27.66 billion and a P/E ratio of -63.21. The stock’s 50 day moving average price is $76.78 and its 200-day moving average price is $98.20.

Circle Internet Group (NYSE:CRCL) last posted 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 business had revenue of $770.23 million during the quarter. The business’s revenue was up 76.9% compared to the same quarter last year.

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 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.