Ghisallo Capital Management LLC Decreases Position in Circle Internet Group, Inc. $CRCL

Ghisallo Capital Management LLC lowered its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 33.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 25,000 shares during the quarter. Ghisallo Capital Management LLC’s holdings in Circle Internet Group were worth $6,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Dnca Finance raised its stake in shares of Circle Internet Group by 73.3% in the third quarter. Dnca Finance now owns 26,000 shares of the company’s stock valued at $3,447,000 after acquiring an additional 11,000 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new position in Circle Internet Group during the 3rd quarter worth $7,173,000. Meridiem Capital Partners LP grew its stake in Circle Internet Group by 141.7% during the 3rd quarter. Meridiem Capital Partners LP now owns 120,854 shares of the company’s stock worth $16,023,000 after purchasing an additional 70,854 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Circle Internet Group during the 3rd quarter worth about $47,614,000. Finally, Sei Investments Co. acquired a new stake in Circle Internet Group in the 3rd quarter valued at about $607,000.

Insider Transactions at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 47,908 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the completion of the sale, the chief financial officer owned 261,059 shares in the company, valued at approximately $23,495,310. The trade was a 15.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rajeev V. Date sold 23,254 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 462,567 shares of company stock valued at $43,969,052 over the last three months.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRCL shares. Robert W. Baird upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Needham & Company LLC cut their target price on shares of Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Mizuho raised their target price on shares of Circle Internet Group from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Friday. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a research note on Tuesday, January 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.65.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $115.22 on Friday. The stock has a 50-day simple moving average of $77.42 and a 200-day simple moving average of $98.13. The stock has a market cap of $27.13 billion and a P/E ratio of -61.95. 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) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The company’s revenue for the quarter was up 76.9% on a year-over-year basis.

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 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.