BBR Partners LLC Takes Position in Circle Internet Group, Inc. $CRCL

BBR Partners LLC acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 10,747 shares of the company’s stock, valued at approximately $852,000.

Several other hedge funds have also recently modified their holdings of CRCL. Creative Planning acquired a new position in shares of Circle Internet Group during the second quarter valued at about $295,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Circle Internet Group during the second quarter valued at about $1,474,000. Invesco Ltd. acquired a new position in shares of Circle Internet Group during the second quarter valued at about $47,640,000. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at about $27,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Circle Internet Group during the second quarter valued at about $2,649,000.

Insider Activity

In other Circle Internet Group news, President Heath Tarbert sold 43,694 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $117.80, for a total value of $5,147,153.20. Following the completion of the transaction, the president owned 599,156 shares in the company, valued at approximately $70,580,576.80. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Michele Burns sold 11,670 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $112.71, for a total transaction of $1,315,325.70. Following the completion of the transaction, the director owned 343,538 shares of the company’s stock, valued at approximately $38,720,167.98. This trade represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 236,617 shares of company stock worth $25,045,808. 10.85% of the stock is currently owned by insiders.

Circle Internet Group Trading Up 0.8%

Shares of NYSE:CRCL opened at $90.84 on Friday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The company’s 50 day moving average is $103.66 and its 200 day moving average is $89.61. The company has a market cap of $22.58 billion and a PE ratio of -28.39.

Circle Internet Group (NYSE:CRCL) last released 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). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. Circle Internet Group’s revenue was up 20.0% on a year-over-year basis. Equities research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Morgan Stanley upped their price objective on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Needham & Company LLC upped their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Finally, Wells Fargo & Company increased their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $137.12.

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.