Circle Internet Group, Inc. $CRCL is CloudAlpha Capital Management Limited Hong Kong’s 9th Largest Position

CloudAlpha Capital Management Limited Hong Kong grew its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 142.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 689,628 shares of the company’s stock after purchasing an additional 405,664 shares during the period. Circle Internet Group makes up 2.6% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 9th largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Circle Internet Group were worth $54,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC bought a new position in Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its position in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Finally, Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group during the 4th quarter worth approximately $29,000.

Circle Internet Group Stock Performance

CRCL stock opened at $111.36 on Wednesday. The firm has a 50 day moving average price of $107.18 and a 200-day moving average price of $89.47. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The firm has a market capitalization of $27.48 billion and a price-to-earnings ratio of -34.80.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million during the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts forecast that Circle Internet Group, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CRCL. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their price objective on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Freedom Capital raised Circle Internet Group to a “hold” rating in a research report on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a report on Wednesday, March 25th. Finally, Zacks Research raised shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.12.

Insiders Place Their Bets

In other news, Director Rajeev V. Date sold 3,819 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $115.00, for a total value of $439,185.00. Following the sale, the director directly owned 152,328 shares of the company’s stock, valued at approximately $17,517,720. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $120.15, for a total value of $1,201,500.00. Following the transaction, the director owned 330,206 shares of the company’s stock, valued at $39,674,250.90. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 618,664 shares of company stock valued at $60,410,221. Company insiders own 10.85% of the company’s stock.

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 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.