Public Employees Retirement System of Ohio Grows Position in Circle Internet Group, Inc. $CRCL

Public Employees Retirement System of Ohio boosted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 294.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,969 shares of the company’s stock after acquiring an additional 41,764 shares during the period. Public Employees Retirement System of Ohio’s holdings in Circle Internet Group were worth $5,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the second quarter valued at approximately $27,000. Larson Financial Group LLC increased its holdings in shares of Circle Internet Group by 3,800.0% in 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 during the period. Harbour Investments Inc. raised its position in shares of Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Circle Internet Group during the 3rd quarter worth $37,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in Circle Internet Group by 5.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,391 shares of the company’s stock valued at $428,000 after purchasing an additional 278 shares during the last quarter.

Insider Buying and Selling

In other 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 value of $203,629.12. Following the completion of the sale, the chief executive officer directly owned 63,346 shares in the company, valued at $4,254,317.36. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $63.90, for a total value of $1,703,957.40. Following the transaction, the insider directly owned 725,068 shares of the company’s stock, valued at approximately $46,331,845.20. The trade was a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,956,527 shares of company stock valued at $155,711,921 in the last 90 days. Corporate insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Down 4.8%

NYSE:CRCL opened at $61.26 on Thursday. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $193.33. The stock has a market capitalization of $15.23 billion and a PE ratio of -19.14. The stock’s 50-day moving average price is $78.05 and its 200-day moving average price is $86.90.

Circle Internet Group (NYSE:CRCL) last announced 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). The business 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 firm’s revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts expect that Circle Internet Group, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRCL. Compass Point set a $62.00 price target on shares of Circle Internet Group in a report on Wednesday, July 15th. KeyCorp began coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating for the company. Robert W. Baird cut their price target on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley raised their target price on Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $110.12.

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.