KEYWISE CAPITAL MANAGEMENT HK Ltd Buys Shares of 549,900 Circle Internet Group, Inc. $CRCL

KEYWISE CAPITAL MANAGEMENT HK Ltd purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the third quarter, according to its most recent filing with the SEC. The firm purchased 549,900 shares of the company’s stock, valued at approximately $72,906,000. Circle Internet Group accounts for 5.6% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also recently made changes to their positions in CRCL. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $32,000. Montag A & Associates Inc. purchased a new position in shares of Circle Internet Group in the 3rd quarter worth approximately $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Circle Internet Group in the 3rd quarter worth approximately $35,000.

Insider Activity at Circle Internet Group

In other news, Director Patrick Sean Neville sold 5,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rajeev V. Date sold 23,254 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $89.62, for a total value of $2,084,023.48. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 462,567 shares of company stock worth $43,969,052 in the last quarter.

Circle Internet Group Trading Up 0.9%

NYSE CRCL opened at $115.22 on Monday. The company has a fifty day simple moving average of $77.42 and a two-hundred day simple moving average of $97.71. The stock has a market cap of $27.13 billion and a P/E ratio of -61.95. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

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

Analysts Set New Price Targets

CRCL has been the subject of a number of analyst reports. Wall Street Zen raised shares of Circle Internet Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright started coverage on shares of Circle Internet Group in a report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price target on the stock. Morgan Stanley initiated coverage on Circle Internet Group in a research report on Monday, February 2nd. They set an “equal weight” rating and a $66.00 price target on the stock. Mizuho increased their price objective on Circle Internet Group from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Friday. Finally, Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.65.

Circle Internet Group 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.