Meridiem Capital Partners LP Increases Position in Circle Internet Group, Inc. $CRCL

Meridiem Capital Partners LP increased its position in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 141.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,854 shares of the company’s stock after acquiring an additional 70,854 shares during the quarter. Meridiem Capital Partners LP owned approximately 0.05% of Circle Internet Group worth $16,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter worth $3,647,694,000. Marshall Wace LLP purchased a new stake in Circle Internet Group in the 2nd quarter valued at about $1,547,214,000. Vanguard Group Inc. increased its stake in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after acquiring an additional 2,126,072 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Circle Internet Group by 1.5% during the 3rd quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company’s stock worth $393,357,000 after acquiring an additional 42,537 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 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 acquiring an additional 959,309 shares during the period.

Insider Activity at Circle Internet Group

In other news, Director Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rajeev V. Date sold 23,254 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $89.62, for a total value of $2,084,023.48. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 462,567 shares of company stock valued at $43,969,052.

Wall Street Analyst Weigh In

CRCL has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $190.00 target price on shares of Circle Internet Group in a report on Tuesday, January 6th. The Goldman Sachs Group lifted their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Wells Fargo & Company lowered their price objective on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. HC Wainwright initiated coverage on Circle Internet Group in a research report on Friday, December 19th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.65.

Circle Internet Group Stock Up 2.9%

Shares of NYSE CRCL traded up $3.30 during trading on Friday, reaching $117.48. 3,784,635 shares of the stock were exchanged, compared to its average volume of 14,612,461. The company has a market capitalization of $27.66 billion and a price-to-earnings ratio of -63.21. The business’s 50-day moving average price is $76.78 and its 200 day moving average price is $98.20. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Circle Internet Group Company 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 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.