Renaissance Technologies LLC Sells 276,100 Shares of Circle Internet Group, Inc. $CRCL

Renaissance Technologies LLC decreased its position in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 13.4% in the first quarter, Holdings Channel reports. The fund owned 1,791,346 shares of the company’s stock after selling 276,100 shares during the period. Renaissance Technologies LLC’s holdings in Circle Internet Group were worth $170,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CRCL. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $3,647,694,000. Marshall Wace LLP lifted its position in shares of Circle Internet Group by 23.8% during the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after purchasing an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. acquired a new position in shares of Circle Internet Group during the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group during the 4th quarter worth about $513,844,000. Finally, Vanguard Group Inc. boosted its stake in Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after purchasing an additional 74,414 shares during the period.

Insider Activity at Circle Internet Group

In related news, Director Patrick Sean Neville sold 1,034,396 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $82.87, for a total value of $85,720,396.52. Following the completion of the transaction, the director owned 2,018 shares of the company’s stock, valued at $167,231.66. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, CEO Jeremy Allaire sold 56,200 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the transaction, the chief executive officer owned 510,579 shares of the company’s stock, valued at approximately $42,342,316.47. This represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,956,527 shares of company stock worth $155,711,921 in the last ninety days. Company 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. The firm has a market capitalization of $15.53 billion and a price-to-earnings ratio of -19.52. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $197.90. The business has a fifty day simple moving average of $80.91 and a 200 day simple moving average of $87.28.

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 analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts anticipate that Circle Internet Group, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRCL has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Thursday, June 11th. Susquehanna began coverage on shares of Circle Internet Group in a research note on Wednesday, July 1st. They set a “neutral” rating and a $69.00 target price for the company. HC Wainwright raised shares of Circle Internet Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $150.00 in a report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average target price of $113.25.

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.