Mediolanum International Funds Ltd Purchases New Stake in Circle Internet Group, Inc. $CRCL

Mediolanum International Funds Ltd acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,847 shares of the company’s stock, valued at approximately $1,245,000.

A number of other large investors also recently added to or reduced their stakes in the business. Spartan Wealth Advisory Services LLC bought a new position in shares of Circle Internet Group in the 1st quarter valued at about $1,118,000. California Public Employees Retirement System bought a new stake in shares of Circle Internet Group during the first quarter worth approximately $13,310,000. SteelPeak Wealth LLC bought a new stake in shares of Circle Internet Group during the first quarter worth approximately $519,000. Allspring Global Investments Holdings LLC acquired a new position in Circle Internet Group in the first quarter valued at approximately $21,761,000. Finally, Bastion Asset Management Inc. acquired a new position in Circle Internet Group in the first quarter valued at approximately $2,733,000.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $71.03 on Wednesday. The company has a 50 day moving average price of $84.39 and a two-hundred day moving average price of $87.70. The company has a market capitalization of $17.66 billion and a PE ratio of -22.20. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $211.99.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results 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). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The firm had revenue of $694.13 million for the quarter. The company’s revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts forecast that Circle Internet Group, Inc. will post 0.98 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CAO Tamara L. Schulz sold 1,194 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total value of $76,893.60. Following the completion of the transaction, the chief accounting officer directly owned 85,871 shares of the company’s stock, valued at approximately $5,530,092.40. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $63.90, for a total value of $1,703,957.40. Following the completion of the sale, the insider owned 725,068 shares of the company’s stock, valued at $46,331,845.20. This trade represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,956,527 shares of company stock worth $155,711,921 in the last three months. 10.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Mizuho reaffirmed an “underperform” rating and set a $50.00 target price (down from $85.00) on shares of Circle Internet Group in a report on Tuesday, July 14th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $150.00 in a research note on Monday, May 18th. Raymond James Financial initiated coverage on Circle Internet Group in a research report on Tuesday. They issued a “market perform” rating on the stock. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Wells Fargo & Company upped their price objective on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and an average target price of $113.25.

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.