Vontobel Holding Ltd. Purchases New Position in Circle Internet Group, Inc. $CRCL

Vontobel Holding Ltd. purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,602 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $36,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $79,000. Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $204,000. Finally, Truist Financial Corp bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $218,000.

Circle Internet Group Stock Up 0.0%

Shares of NYSE CRCL opened at $134.52 on Thursday. Circle Internet Group, Inc. has a 52-week low of $64.00 and a 52-week high of $298.99. The stock has a 50 day moving average price of $135.49. The firm has a market cap of $30.86 billion and a P/E ratio of -10,630.95.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($4.82). The company had revenue of $658.08 million for the quarter, compared to the consensus estimate of $645.35 million. The business’s quarterly revenue was up 53.0% on a year-over-year basis.

Insider Activity at Circle Internet Group

In related news, CEO Jeremy Allaire sold 357,812 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $45,470,748.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patrick Sean Neville sold 260,374 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $33,088,327.92. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 over the last ninety days.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRCL. JPMorgan Chase & Co. lifted their price target on shares of Circle Internet Group from $80.00 to $89.00 and gave the company an “underweight” rating in a report on Tuesday, August 19th. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Robert W. Baird reduced their target price on shares of Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Barclays started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set an “overweight” rating and a $215.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set an “outperform” rating and a $230.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $165.54.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.