Clear Street Group Inc. Grows Holdings in Circle Internet Group, Inc. $CRCL

by · The Markets Daily

Clear Street Group Inc. increased its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL – Free Report) by 154.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,605,509 shares of the company’s stock after purchasing an additional 973,552 shares during the period. Circle Internet Group makes up approximately 0.5% of Clear Street Group Inc.’s investment portfolio, making the stock its 15th largest position. Clear Street Group Inc. owned 0.68% of Circle Internet Group worth $127,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRCL. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Circle Internet Group during the fourth quarter worth $25,000. Larson Financial Group LLC boosted its holdings in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at about $27,000. Bellevue Asset Management LLC purchased a new stake in Circle Internet Group during the fourth quarter worth about $29,000. Finally, Harbour Investments Inc. lifted its position in shares of Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRCL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Freedom Capital upgraded Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. KeyCorp initiated coverage on Circle Internet Group in a report on Tuesday, May 26th. They set a “sector weight” rating on the stock. Finally, Compass Point reiterated a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $134.18.

Read Our Latest Research Report on Circle Internet Group

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $83.75, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 50,000 shares of Circle Internet Group stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00. Following the sale, the director owned 2,018 shares in the company, valued at $164,063.40. This trade represents a 96.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is owned by insiders.

Circle Internet Group Price Performance

Circle Internet Group stock opened at $77.85 on Friday. The stock has a market cap of $19.35 billion and a PE ratio of -24.33. The stock’s fifty day moving average is $101.91 and its two-hundred day moving average is $89.84. 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 – Get Free Report) 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). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The firm’s revenue was up 20.0% compared to the same quarter last year. On average, research analysts expect that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Circle Internet Group Company Profile

(Free Report)

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.

Further Reading

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