Maytus Capital Management LLC Invests $952,000 in Circle Internet Group, Inc. $CRCL

Maytus Capital Management LLC bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,000 shares of the company’s stock, valued at approximately $952,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fred Alger Management LLC purchased a new position in Circle Internet Group in the fourth quarter valued at approximately $710,000. Blair William & Co. IL bought a new stake in Circle Internet Group during the 4th quarter valued at $1,797,000. Oddo BHF Asset Management Sas bought a new stake in Circle Internet Group during the 4th quarter valued at $4,446,000. Cynosure Group LLC bought a new position in shares of Circle Internet Group in the fourth quarter worth $27,210,000. Finally, Alberta Investment Management Corp bought a new position in shares of Circle Internet Group in the fourth quarter worth $25,027,000.

Analysts Set New Price Targets

A number of research analysts recently commented on CRCL shares. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a report on Thursday, June 11th. Needham & Company LLC raised their price objective on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.18.

Circle Internet Group Stock Down 4.7%

Shares of NYSE CRCL opened at $79.47 on Wednesday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a market cap of $19.75 billion and a P/E ratio of -24.83. The company has a 50 day moving average of $101.56 and a 200 day moving average of $90.11.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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 during the quarter. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts expect that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the completion of the sale, the insider directly owned 521,809 shares in the company, valued at approximately $43,701,503.75. The trade was a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total transaction of $3,196,882.80. Following the sale, the president owned 502,558 shares of the company’s stock, valued at approximately $40,943,400.26. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is owned by corporate insiders.

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.