139,507 Shares in Circle Internet Group, Inc. $CRCL Purchased by California Public Employees Retirement System

California Public Employees Retirement System purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the first quarter, HoldingsChannel reports. The institutional investor purchased 139,507 shares of the company’s stock, valued at approximately $13,310,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group during the second quarter worth approximately $27,000. Larson Financial Group LLC grew its stake in shares of 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 buying an additional 190 shares during the period. Harbour Investments Inc. increased its holdings in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after buying an additional 238 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth $37,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of Circle Internet Group by 5.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 5,391 shares of the company’s stock worth $428,000 after buying an additional 278 shares during the last quarter.

Analysts Set New Price Targets

CRCL has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Mizuho restated an “underperform” rating and set a $50.00 price target (down from $85.00) on shares of Circle Internet Group in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group decreased their target price on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Finally, William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.25.

Insider Buying and Selling at Circle Internet Group

In related news, CEO Jeremy Allaire sold 3,032 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $67.16, for a total transaction of $203,629.12. Following the transaction, the chief executive officer directly owned 63,346 shares of the company’s stock, valued at approximately $4,254,317.36. The trade was a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tamara L. Schulz sold 1,194 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total value of $76,893.60. Following the completion of the transaction, the chief accounting officer owned 85,871 shares of the company’s stock, valued at approximately $5,530,092.40. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 1,956,527 shares of company stock worth $155,711,921. Insiders own 10.85% of the company’s stock.

Circle Internet Group Trading Up 0.5%

Shares of NYSE CRCL opened at $62.48 on Friday. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $197.90. The company has a market cap of $15.53 billion and a P/E ratio of -19.52. The stock has a fifty day moving average price of $80.91 and a 200 day moving average price of $87.28.

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

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.