Circle Internet Group, Inc. $CRCL Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Circle Internet Group, Inc. (NYSE:CRCL) by 252.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 506,971 shares of the company’s stock after buying an additional 363,157 shares during the period. Exchange Traded Concepts LLC’s holdings in Circle Internet Group were worth $40,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRCL. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter valued at $27,000. PNC Financial Services Group Inc. raised its stake in Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after acquiring an additional 151 shares during the last quarter. Larson Financial Group LLC lifted 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 worth $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group during the 3rd quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in Circle Internet Group during the 3rd quarter valued at about $32,000.

Insider Activity

In related news, Director Rajeev V. Date sold 23,254 shares of Circle Internet Group stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $89.62, for a total value of $2,084,023.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Heath Tarbert sold 122,007 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $94.23, for a total transaction of $11,496,719.61. Following the completion of the sale, the president directly owned 599,156 shares of the company’s stock, valued at approximately $56,458,469.88. The trade was a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 482,195 shares of company stock worth $46,809,227.

Circle Internet Group Stock Down 4.8%

Shares of Circle Internet Group stock opened at $93.59 on Friday. The firm has a market cap of $23.10 billion and a PE ratio of -50.32. The business has a 50-day moving average price of $84.37 and a 200 day moving average price of $97.67. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The company’s quarterly revenue was up 76.9% on a year-over-year basis.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRCL. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Mizuho upped their target price on Circle Internet Group from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. cut their price target on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. The Goldman Sachs Group raised their price target 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. Finally, William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $126.29.

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.