Atlas Merchant Capital LLC Has $223.71 Million Stock Position in Circle Internet Group, Inc. $CRCL

Atlas Merchant Capital LLC reduced its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,687,376 shares of the company’s stock after selling 99,438 shares during the period. Circle Internet Group accounts for about 99.0% of Atlas Merchant Capital LLC’s investment portfolio, making the stock its largest holding. Atlas Merchant Capital LLC owned about 0.74% of Circle Internet Group worth $223,712,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Bank of Montreal Can purchased a new position in shares of Circle Internet Group during the second quarter valued at approximately $414,000. Allworth Financial LP purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $37,000. Boston Partners purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $317,000. PNC Financial Services Group Inc. bought a new position in Circle Internet Group during the 2nd quarter valued at approximately $184,000. Finally, Geode Capital Management LLC bought a new position in Circle Internet Group during the 2nd quarter valued at approximately $65,504,000.

Circle Internet Group Trading Up 0.9%

CRCL opened at $115.22 on Friday. The firm’s 50 day simple moving average is $77.42 and its two-hundred day simple moving average is $98.13. The company has a market capitalization of $27.13 billion and a PE ratio of -61.95. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research downgraded Circle Internet Group from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Sanford C. Bernstein set a $190.00 price target on Circle Internet Group in a report on Tuesday, January 6th. Robert W. Baird raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. dropped their price target on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. Finally, Wolfe Research assumed coverage on shares of Circle Internet Group in a research note on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of “Hold” and an average price target of $124.65.

Insiders Place Their Bets

In related news, Director Rajeev V. Date sold 23,254 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $89.62, for a total transaction of $2,084,023.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Michele Burns sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $2,625,000.00. Following the completion of the sale, the director directly owned 355,230 shares of the company’s stock, valued at $37,299,150. This represents a 6.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 462,567 shares of company stock valued at $43,969,052.

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.