Franchise Capital Ltd Sells 9,130 Shares of Circle Internet Group, Inc. $CRCL

Franchise Capital Ltd reduced its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 91.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 870 shares of the company’s stock after selling 9,130 shares during the quarter. Circle Internet Group makes up approximately 0.1% of Franchise Capital Ltd’s investment portfolio, making the stock its 25th largest position. Franchise Capital Ltd’s holdings in Circle Internet Group were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CRCL. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at about $27,000. North Star Investment Management Corp. purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $36,000. Allworth Financial LP purchased a new stake in shares of Circle Internet Group in the second quarter valued at approximately $37,000. Finally, Chilton Capital Management LLC bought a new position in Circle Internet Group in the second quarter worth approximately $40,000.

Insider Buying and Selling

In other Circle Internet Group news, CEO Jeremy Allaire sold 7,055 shares of Circle Internet Group stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total value of $635,443.85. Following the transaction, the chief executive officer directly owned 70,517 shares of the company’s stock, valued at approximately $6,351,466.19. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,144,700.00. Following the sale, the chief financial officer owned 282,173 shares of the company’s stock, valued at approximately $25,395,570. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 722,089 shares of company stock valued at $58,540,227 over the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Rothschild & Co Redburn started coverage on Circle Internet Group in a research report on Friday, October 3rd. They set a “neutral” rating and a $136.00 target price for the company. Baird R W upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $94.00 to $100.00 in a report on Thursday, November 13th. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, JMP Securities initiated coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.29.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $76.62 on Friday. The company has a market capitalization of $18.04 billion and a PE ratio of -33.46. The company has a 50-day simple moving average of $81.91 and a two-hundred day simple moving average of $127.10. Circle Internet Group, Inc. has a one year low of $64.00 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. The company’s quarterly revenue was up 65.9% on a year-over-year basis.

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.