Rhumbline Advisers Takes $5.98 Million Position in Circle Internet Group, Inc. $CRCL

Rhumbline Advisers acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 45,086 shares of the company’s stock, valued at approximately $5,977,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $115,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Circle Internet Group in the second quarter valued at $247,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Circle Internet Group in the second quarter valued at $61,650,000. Chilton Capital Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth $40,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Circle Internet Group during the 2nd quarter worth about $4,616,000.

Circle Internet Group Trading Up 1.9%

Shares of Circle Internet Group stock opened at $63.07 on Monday. The company has a fifty day simple moving average of $72.74 and a 200-day simple moving average of $102.52. The stock has a market cap of $14.85 billion and a price-to-earnings ratio of -27.54. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

Insider Buying and Selling

In other news, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tamara L. Schulz sold 4,438 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $85.19, for a total value of $378,073.22. Following the completion of the sale, the chief accounting officer directly owned 82,679 shares of the company’s stock, valued at approximately $7,043,424.01. This trade represents a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 205,769 shares of company stock valued at $17,148,896 over the last ninety days.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRCL. JPMorgan Chase & Co. decreased their price objective on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th. Needham & Company LLC dropped their price objective on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $131.76.

Circle Internet Group 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.