IQ EQ FUND MANAGEMENT IRELAND Ltd Has $5.53 Million Stock Position in Circle Internet Group, Inc. $CRCL

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 63.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,679 shares of the company’s stock after acquiring an additional 16,215 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Circle Internet Group were worth $5,526,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $3,647,694,000. Marshall Wace LLP bought a new position in Circle Internet Group in the 2nd quarter worth approximately $1,547,214,000. ARK Investment Management LLC bought a new position in Circle Internet Group in the 2nd quarter worth approximately $530,165,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Circle Internet Group by 282.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after buying an additional 959,309 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Circle Internet Group during the 2nd quarter worth $73,101,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 target price for the company. JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $94.00 to $100.00 in a report on Thursday, November 13th. Monness Crespi & Hardt began coverage on shares of Circle Internet Group in a research report on Monday, November 10th. They set a “buy” rating and a $150.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Finally, Mizuho set a $77.00 price objective on shares of Circle Internet Group and gave the company a “neutral” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.56.

Circle Internet Group Trading Down 8.7%

Circle Internet Group stock opened at $50.26 on Friday. The firm has a market capitalization of $11.83 billion and a P/E ratio of -21.95. The business has a 50-day moving average of $78.04 and a 200-day moving average of $113.13. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. The business’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Activity at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 23,830 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $2,144,700.00. Following the completion of the transaction, the chief financial officer directly owned 282,173 shares in the company, valued at approximately $25,395,570. The trade was a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Allaire sold 7,055 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.07, for a total transaction of $635,443.85. Following the sale, the chief executive officer owned 70,517 shares in the company, valued at $6,351,466.19. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 723,616 shares of company stock valued at $58,631,542 over the last 90 days.

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 USD Coin (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.