Renaissance Capital LLC Makes New $6.79 Million Investment in Circle Internet Group, Inc. $CRCL

Renaissance Capital LLC acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 51,208 shares of the company’s stock, valued at approximately $6,789,000. Circle Internet Group makes up about 3.8% of Renaissance Capital LLC’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRCL. General Catalyst Group Management LLC bought a new position in Circle Internet Group in the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP purchased a new position in Circle Internet Group in the second quarter worth $1,547,214,000. ARK Investment Management LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth $530,165,000. Squarepoint Ops LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth about $73,101,000. Finally, Nikko Asset Management Americas Inc. purchased a new stake in Circle Internet Group during the second quarter valued at about $72,486,000.

Circle Internet Group Stock Performance

Shares of NYSE CRCL opened at $79.84 on Wednesday. The stock’s 50-day simple moving average is $92.22 and its two-hundred day simple moving average is $136.20. Circle Internet Group, Inc. has a twelve month low of $64.00 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue was up 65.9% compared to the same quarter last year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 33,569 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total value of $2,855,043.45. Following the completion of the sale, the director directly owned 33,568 shares of the company’s stock, valued at $2,854,958.40. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rajeev V. Date sold 190,867 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $83.58, for a total value of $15,952,663.86. Following the completion of the sale, the director directly owned 127,247 shares of the company’s stock, valued at approximately $10,635,304.26. This trade represents a 60.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 717,651 shares of company stock valued at $58,162,154.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup began coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Rothschild Redb upgraded Circle Internet Group to a “hold” rating in a research report on Friday, October 3rd. Monness Crespi & Hardt began coverage on Circle Internet Group in a research note on Monday, November 10th. They set a “buy” rating and a $150.00 price objective on the stock. Redburn Partners set a $136.00 target price on Circle Internet Group in a research note on Friday, October 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.18.

Circle Internet Group 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 USD Coin (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.