IDG Accel China Capital GP II Associates Ltd. Takes $24.75 Million Position in Circle Internet Group, Inc. $CRCL

IDG Accel China Capital GP II Associates Ltd. acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 312,059 shares of the company’s stock, valued at approximately $24,746,000. Circle Internet Group comprises approximately 100.0% of IDG Accel China Capital GP II Associates Ltd.’s investment portfolio, making the stock its largest holding.

Several other hedge funds have also recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth about $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new stake in Circle Internet Group in the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the 4th quarter worth about $513,844,000. Vanguard Group Inc. lifted its stake in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Circle Internet Group in the 4th quarter worth about $163,948,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CRCL shares. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Thursday. KeyCorp started coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating for the company. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $150.00 in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus price target of $134.18.

Circle Internet Group Price Performance

CRCL opened at $77.85 on Friday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The business has a 50-day moving average of $101.91 and a 200-day moving average of $89.84. The company has a market capitalization of $19.35 billion and a PE ratio of -24.33.

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

Insider Activity at Circle Internet Group

In other news, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the transaction, the insider owned 521,809 shares of the company’s stock, valued at approximately $43,701,503.75. This represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 50,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $81.30, for a total value of $4,065,000.00. Following the transaction, the director directly owned 2,018 shares in the company, valued at approximately $164,063.40. This 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. Over the last three months, insiders sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is currently owned by corporate insiders.

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.