CenterBook Partners LP Purchases New Holdings in Circle Internet Group, Inc. $CRCL

CenterBook Partners LP purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 9,830 shares of the company’s stock, valued at approximately $808,000.

Several other institutional investors have also modified their holdings of the business. Pinnacle Wealth Planning Services Inc. increased its position in shares of Circle Internet Group by 952.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 379 shares of the company’s stock worth $31,000 after acquiring an additional 343 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Circle Internet Group in the first quarter valued at $43,000. GAMMA Investing LLC boosted its holdings in Circle Internet Group by 28.6% in the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock valued at $45,000 after purchasing an additional 159 shares during the period. Heritage Family Offices LLP purchased a new position in Circle Internet Group in the third quarter valued at $45,000. Finally, TrinityBridge Ltd boosted its holdings in Circle Internet Group by 93.9% in the third quarter. TrinityBridge Ltd now owns 640 shares of the company’s stock valued at $53,000 after purchasing an additional 310 shares during the period.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,668 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total value of $2,122,506.12. Following the transaction, the insider directly owned 715,331 shares in the company, valued at $56,933,194.29. This represents a 3.59% decrease in their ownership of the stock. The sale 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. Also, CEO Jeremy Allaire sold 56,205 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $68.48, for a total transaction of $3,848,918.40. Following the sale, the chief executive officer directly owned 221,355 shares in the company, valued at approximately $15,158,390.40. The trade was a 20.25% 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. Over the last three months, insiders have sold 431,872 shares of company stock valued at $36,861,999. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $64.81 on Wednesday. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 40.70 and a beta of 0.84. The business has a 50-day moving average of $84.44 and a two-hundred day moving average of $85.58. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $140.00.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.42. The business had revenue of $864.89 million for the quarter. Circle Internet Group had a return on equity of 13.10% and a net margin of 15.27%. Circle Internet Group’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 1.20 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Circle Internet Group from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft raised Circle Internet Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 5th. Mizuho set a $46.00 price objective on Circle Internet Group in a research note on Thursday, November 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $140.00 price objective on shares of Circle Internet Group in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $91.44.

Circle Internet Group Company Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.