Sei Investments Co. Has $10.77 Million Stake in Circle Internet Group, Inc. $CRCL

Sei Investments Co. grew its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 1,687.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 112,845 shares of the company’s stock after purchasing an additional 106,532 shares during the period. Sei Investments Co.’s holdings in Circle Internet Group were worth $10,766,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group during the fourth quarter worth $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group during the fourth quarter worth $513,844,000. Renaissance Technologies LLC purchased a new stake in Circle Internet Group in the 4th quarter valued at $163,948,000. Finally, Marshall Wace LLP raised its position in Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after buying an additional 1,919,205 shares during the last quarter.

Circle Internet Group Trading Down 2.6%

Shares of Circle Internet Group stock opened at $62.55 on Friday. The business’s fifty day simple moving average is $76.03 and its 200 day simple moving average is $86.60. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $189.92. The firm has a market capitalization of $15.55 billion and a P/E ratio of -19.55.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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 business had revenue of $694.13 million during the quarter. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts predict that Circle Internet Group, Inc. will post 0.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Heath Tarbert sold 39,240 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president directly owned 502,558 shares of the company’s stock, valued at approximately $40,943,400.26. The trade was a 7.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,200 shares of the stock in a transaction dated Friday, June 5th. The shares were 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. The trade was a 9.92% 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. Insiders sold 1,914,327 shares of company stock worth $151,802,213 in the last ninety days. Corporate insiders own 10.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $101.00 target price on shares of Circle Internet Group in a report on Tuesday, May 12th. Needham & Company LLC raised their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein restated an “outperform” rating and set a $140.00 price target on shares of Circle Internet Group in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $109.81.

About Circle Internet Group

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.