Rockefeller Capital Management L.P. Grows Position in Circle Internet Group, Inc. $CRCL

Rockefeller Capital Management L.P. grew its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 17.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 255,222 shares of the company’s stock after buying an additional 38,567 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Circle Internet Group were worth $20,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $27,000. 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 worth $26,000 after purchasing an additional 190 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of Circle Internet Group during the 3rd quarter worth approximately $33,000. National Bank of Canada FI acquired a new position in shares of Circle Internet Group during the 3rd quarter worth approximately $37,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Circle Internet Group in the third quarter valued at approximately $39,000.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $75.36 on Wednesday. The stock has a 50 day moving average of $100.43 and a 200 day moving average of $90.13. The firm has a market capitalization of $18.73 billion and a price-to-earnings ratio of -23.55. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $265.00.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Monday, May 11th. The company reported $0.21 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 business had revenue of $694.13 million during the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

CRCL has been the subject of several recent research reports. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Canaccord Genuity Group restated a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a report on Wednesday, March 25th. KeyCorp assumed coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating for the company. Robert W. Baird lifted their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Thursday, June 11th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.18.

Insider Activity

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction dated 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 transaction, the insider owned 521,809 shares of the company’s stock, valued at $43,701,503.75. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of Circle Internet Group stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $85.00, for a total transaction of $108,205.00. Following the sale, the director owned 154,346 shares of the company’s stock, valued at approximately $13,119,410. This represents a 0.82% 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 ninety days, insiders sold 1,405,984 shares of company stock worth $118,860,837. 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.