SBI Holdings USA Inc. Acquires New Holdings in Circle Internet Group, Inc. $CRCL

SBI Holdings USA Inc. acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,614,000 shares of the company’s stock, valued at approximately $127,990,000. Circle Internet Group accounts for approximately 100.0% of SBI Holdings USA Inc.’s investment portfolio, making the stock its biggest position.

A number of other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the second quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its holdings in shares of Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after buying an additional 151 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in shares of Circle Internet Group in the third quarter valued at approximately $33,000.

Insider Buying and Selling at Circle Internet Group

In related news, insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $123.08, for a total transaction of $1,230,800.00. Following the completion of the transaction, the insider owned 540,376 shares in the company, valued at approximately $66,509,478.08. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Heath Tarbert sold 43,694 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total transaction of $5,147,153.20. Following the transaction, the president owned 599,156 shares of the company’s stock, valued at $70,580,576.80. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 236,617 shares of company stock worth $25,045,808. Company insiders own 10.85% of the company’s stock.

Analyst Upgrades and Downgrades

CRCL has been the subject of several research analyst reports. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $150.00 in a report on Monday, May 18th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Needham & Company LLC upped their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Mizuho upped their price target on shares of Circle Internet Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $137.12.

Circle Internet Group Trading Down 10.2%

Shares of CRCL opened at $90.59 on Thursday. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The firm has a fifty day simple moving average of $103.88 and a 200 day simple moving average of $89.55. The stock has a market capitalization of $22.52 billion and a price-to-earnings ratio of -28.31.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 business had revenue of $694.13 million for the quarter. The firm’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

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 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.