Quinn Opportunity Partners LLC Purchases Shares of 54,100 Circle Internet Group, Inc. $CRCL

Quinn Opportunity Partners LLC acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 54,100 shares of the company’s stock, valued at approximately $7,173,000.

Several other institutional investors also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Circle Internet Group during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group in the second quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in Circle Internet Group in the third quarter worth $32,000. Montag A & Associates Inc. bought a new position in Circle Internet Group in the third quarter worth $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Circle Internet Group during the third quarter worth $35,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Robert W. Baird upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Wolfe Research started coverage on shares of Circle Internet Group in a research note on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average price target of $124.65.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $115.22 on Friday. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The stock has a market capitalization of $27.13 billion and a PE ratio of -61.95. The stock’s fifty day moving average is $77.42 and its 200-day moving average is $98.13.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The business’s quarterly revenue was up 76.9% on a year-over-year basis.

Insider Buying and Selling at Circle Internet Group

In related news, CEO Jeremy Allaire sold 1,516 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.04, for a total value of $136,500.64. Following the completion of the sale, the chief executive officer owned 66,378 shares of the company’s stock, valued at $5,976,675.12. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Heath Tarbert sold 43,694 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total value of $5,147,153.20. Following the transaction, the president directly owned 599,156 shares in the company, valued at approximately $70,580,576.80. This represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 462,567 shares of company stock valued at $43,969,052 over the last three months.

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.