Dnca Finance Raises Holdings in Circle Internet Group, Inc. $CRCL

Dnca Finance grew its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 73.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the company’s stock after buying an additional 11,000 shares during the quarter. Dnca Finance’s holdings in Circle Internet Group were worth $3,447,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the second quarter worth $27,000. PNC Financial Services Group Inc. lifted its holdings in Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after acquiring an additional 151 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group during the 3rd quarter worth $27,000. Allworth Financial LP acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $37,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Circle Internet Group during the 3rd quarter worth $32,000.

Circle Internet Group Stock Up 0.9%

Circle Internet Group stock opened at $115.22 on Friday. The firm has a market capitalization of $27.13 billion and a PE ratio of -61.95. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The firm’s 50-day simple moving average is $77.42 and its 200 day simple moving average is $98.13.

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

Insiders Place Their Bets

In other news, Director Rajeev V. Date sold 23,254 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. 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 1,516 shares of Circle Internet Group stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $90.04, for a total value of $136,500.64. Following the transaction, the chief executive officer owned 66,378 shares of the company’s stock, valued at $5,976,675.12. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 462,567 shares of company stock valued at $43,969,052.

Analysts Set New Price Targets

CRCL has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of Circle Internet Group in a research note on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. dropped their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. HC Wainwright assumed coverage on shares of Circle Internet Group in a research report on Friday, December 19th. They set a “neutral” rating and a $85.00 price target for the company. Finally, Zacks Research lowered Circle Internet Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and an average price target of $124.65.

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 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.