Fulcrum Asset Management LLP Buys 50,959 Shares of Circle Internet Group, Inc. $CRCL

Fulcrum Asset Management LLP bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 50,959 shares of the company’s stock, valued at approximately $4,265,000.

Several other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of Circle Internet Group during the second quarter valued at about $5,539,000. Fifth Third Bancorp purchased a new position in shares of Circle Internet Group in the first quarter worth about $7,282,000. SBI Holdings USA Inc. purchased a new position in shares of Circle Internet Group in the second quarter worth about $101,084,820. Handelsbanken Fonder AB bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $6,804,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Circle Internet Group in the 1st quarter valued at about $21,761,000.

Circle Internet Group Trading Down 0.4%

CRCL stock opened at $67.62 on Tuesday. The firm’s 50-day moving average price is $85.06 and its two-hundred day moving average price is $85.61. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $140.00. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 45.85 and a beta of 0.84.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.42. The company had revenue of $864.89 million during the quarter. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.52%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities analysts predict that Circle Internet Group, Inc. will post 1.20 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRCL shares. The Goldman Sachs Group restated an “underperform” rating on shares of Circle Internet Group in a report on Wednesday, September 9th. Wells Fargo & Company reduced their price target on Circle Internet Group from $115.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Keefe, Bruyette & Woods decreased their price target on Circle Internet Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Thursday, November 5th. Weiss Ratings downgraded Circle Internet Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Finally, TD Cowen lowered their price objective on Circle Internet Group from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and a consensus price target of $91.44.

Insiders Place Their Bets

In other Circle Internet Group news, Director Patrick Neville sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $92.09, for a total transaction of $4,604,500.00. Following the completion of the transaction, the director owned 2,018 shares of the company’s stock, valued at $185,837.62. This represents a 96.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,205 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $68.48, for a total value of $3,848,918.40. Following the completion of the sale, the chief executive officer owned 221,355 shares of the company’s stock, valued at approximately $15,158,390.40. This trade represents 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. Insiders have sold 405,204 shares of company stock worth $35,099,511 in the last quarter. 10.85% of the stock is currently owned by company insiders.

Circle Internet Group 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.