Truist Financial Corp Invests $643,000 in Circle Internet Group, Inc. $CRCL

Truist Financial Corp purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,112 shares of the company’s stock, valued at approximately $643,000.

A number of other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in shares of Circle Internet Group by 11.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,268 shares of the company’s stock valued at $656,000 after purchasing an additional 875 shares during the period. GC Wealth Management RIA LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter valued at $18,165,000. Simplicity Wealth LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter valued at $1,215,000. Wealthfront Advisers LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter valued at $272,000. Finally, Comerica Bank grew its position in shares of Circle Internet Group by 8,291.6% in the fourth quarter. Comerica Bank now owns 72,252 shares of the company’s stock valued at $5,730,000 after purchasing an additional 71,391 shares during the period.

Insider Activity

In other Circle Internet Group news, Director M Michele Burns sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total transaction of $1,201,500.00. Following the completion of the sale, the director owned 330,206 shares of the company’s stock, valued at approximately $39,674,250.90. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tamara L. Schulz sold 1,194 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $107.10, for a total value of $127,877.40. Following the sale, the chief accounting officer directly owned 90,829 shares of the company’s stock, valued at approximately $9,727,785.90. This trade represents a 1.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 618,664 shares of company stock valued at $60,410,221 in the last 90 days. 10.85% of the stock is owned by corporate insiders.

Circle Internet Group Trading Down 2.2%

CRCL stock opened at $111.48 on Tuesday. The stock has a 50-day moving average price of $106.99 and a two-hundred day moving average price of $89.61. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99. The company has a market cap of $27.52 billion and a PE ratio of -34.84.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRCL. Robert W. Baird lifted their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Freedom Capital raised Circle Internet Group to a “hold” rating in a research report on Tuesday, April 21st. 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 report on Tuesday, May 5th. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Finally, Compass Point reaffirmed a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $135.59.

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.