Aptus Capital Advisors LLC Invests $644,000 in Circle Internet Group, Inc. $CRCL

Aptus Capital Advisors LLC purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,859 shares of the company’s stock, valued at approximately $644,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. General Catalyst Group Management LLC bought a new position in Circle Internet Group during the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $1,547,214,000. Vanguard Group Inc. raised its holdings in shares of Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Circle Internet Group by 282.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after purchasing an additional 959,309 shares during the period. Finally, Amova Asset Management Americas Inc. lifted its position in shares of Circle Internet Group by 222.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after purchasing an additional 892,359 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a report on Tuesday, January 6th. Morgan Stanley began coverage on Circle Internet Group in a report on Monday, February 2nd. They set an “equal weight” rating and a $66.00 target price for the company. Robert W. Baird raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. HC Wainwright initiated coverage on Circle Internet Group in a report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price target on the stock. Finally, Wolfe Research assumed coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus price target of $123.47.

Insider Transactions at Circle Internet Group

In related news, Director M Michele Burns sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $2,625,000.00. Following the completion of the transaction, the director owned 355,230 shares of the company’s stock, valued at $37,299,150. This trade represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Allaire sold 14,109 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $90.04, for a total transaction of $1,270,374.36. Following the transaction, the chief executive officer owned 56,408 shares of the company’s stock, valued at $5,078,976.32. This represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 496,816 shares of company stock valued at $45,837,290.

Circle Internet Group Stock Up 5.3%

Circle Internet Group stock opened at $117.81 on Wednesday. The stock has a 50-day moving average price of $75.42 and a 200 day moving average price of $97.99. The company has a market capitalization of $27.74 billion and a price-to-earnings ratio of -63.34. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The business’s quarterly revenue was up 76.9% on a year-over-year basis.

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 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.