Krane Funds Advisors LLC Invests $709,000 in Circle Internet Group, Inc. $CRCL

Krane Funds Advisors LLC acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,939 shares of the company’s stock, valued at approximately $709,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $27,000. PNC Financial Services Group Inc. raised its position in shares of Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after purchasing an additional 151 shares during the last quarter. Larson Financial Group LLC lifted its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Harbour Investments Inc. lifted its stake in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in Circle Internet Group during the 3rd quarter valued at $33,000.

Circle Internet Group Price Performance

NYSE CRCL opened at $80.19 on Monday. The company has a market cap of $19.93 billion and a P/E ratio of -25.06. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The company has a 50-day moving average of $103.19 and a 200-day moving average of $89.64.

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

Insider Activity at Circle Internet Group

In other news, Director M Michele Burns sold 11,670 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $112.71, for a total transaction of $1,315,325.70. Following the completion of the sale, the director directly owned 343,538 shares of the company’s stock, valued at $38,720,167.98. The trade was a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $123.08, for a total value of $1,230,800.00. Following the sale, the insider owned 540,376 shares of the company’s stock, valued at approximately $66,509,478.08. The trade was a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 236,617 shares of company stock worth $25,045,808 in the last 90 days. Company insiders own 10.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CRCL shares. KeyCorp initiated coverage on Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating for the company. Needham & Company LLC lifted their price objective on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a research note on Tuesday, May 12th. Finally, Robert W. Baird boosted their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, 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.