Capital Fund Management S.A. Buys Shares of 425,413 Circle Internet Group, Inc. $CRCL

Capital Fund Management S.A. bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 425,413 shares of the company’s stock, valued at approximately $56,401,000. Capital Fund Management S.A. owned approximately 0.19% of Circle Internet Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group in the second quarter valued at approximately $27,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Circle Internet Group during the third quarter valued at approximately $27,000. Allworth Financial LP bought a new stake in Circle Internet Group during the second quarter worth $37,000. Highline Wealth Partners LLC acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at $33,000.

Insider Transactions at Circle Internet Group

In related news, President Heath Tarbert sold 122,007 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.23, for a total value of $11,496,719.61. Following the sale, the president owned 599,156 shares of the company’s stock, valued at $56,458,469.88. The trade was a 16.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director M Michele Burns sold 80,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.88, for a total value of $7,590,400.00. Following the completion of the sale, the director owned 305,230 shares of the company’s stock, valued at $28,960,222.40. The trade was a 20.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 496,816 shares of company stock worth $45,837,290.

Wall Street Analysts Forecast Growth

CRCL has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a research note on Tuesday, January 6th. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Robert W. Baird raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Mizuho raised their price target on shares of Circle Internet Group from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $123.47.

Circle Internet Group Trading Up 5.3%

Circle Internet Group stock opened at $117.81 on Wednesday. The stock has a 50-day moving average price of $75.42 and a two-hundred day moving average price of $97.99. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The company has a market capitalization of $27.74 billion and a PE ratio of -63.34.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The company’s revenue was up 76.9% compared to the same quarter last year.

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 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.