Virtu Financial LLC Invests $2.16 Million in Circle Internet Group, Inc. $CRCL

Virtu Financial LLC bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,232 shares of the company’s stock, valued at approximately $2,159,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group during the second quarter worth $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group during the 4th quarter valued at about $554,792,000. Accel XI Associates L.L.C. acquired a new position in Circle Internet Group in the 4th quarter valued at about $513,844,000. Vanguard Group Inc. increased its stake in Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Circle Internet Group during the fourth quarter worth about $163,948,000.

Insider Activity

In related news, Director Rajeev V. Date sold 1,273 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total value of $108,205.00. Following the completion of the transaction, the director directly owned 154,346 shares of the company’s stock, valued at $13,119,410. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the completion of the transaction, the insider owned 521,809 shares in the company, valued at $43,701,503.75. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,415,984 shares of company stock valued at $120,091,637 over the last 90 days. Insiders own 10.85% of the company’s stock.

Circle Internet Group Price Performance

NYSE:CRCL opened at $80.46 on Friday. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The firm has a market capitalization of $20.00 billion and a PE ratio of -25.14. The business’s fifty day moving average price is $100.79 and its 200 day moving average price is $90.09.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million for the quarter. The firm’s revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of research reports. Zacks Research upgraded shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Mizuho dropped their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a research report on Tuesday, May 12th. Robert W. Baird increased their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company lifted their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $134.18.

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.