Circle Internet Group, Inc. $CRCL Stock Position Decreased by Capital International Investors

Capital International Investors lessened its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 91.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,099 shares of the company’s stock after selling 212,379 shares during the period. Capital International Investors’ holdings in Circle Internet Group were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRCL. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group during the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Circle Internet Group in the third quarter worth approximately $32,000. Montag A & Associates Inc. purchased a new stake in shares of Circle Internet Group in the third quarter worth approximately $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Circle Internet Group during the third quarter worth approximately $35,000.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $113.85 on Friday. The stock’s 50-day moving average is $76.78 and its 200-day moving average is $98.20. The company has a market cap of $26.81 billion and a P/E ratio of -61.21. 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 released its earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The firm’s revenue was up 76.9% compared to the same quarter last year.

Insider Activity

In related news, Director Rajeev V. Date sold 23,254 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Michele Burns sold 80,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $94.88, for a total value of $7,590,400.00. Following the sale, the director owned 305,230 shares in the company, valued at approximately $28,960,222.40. This trade represents a 20.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 462,567 shares of company stock valued at $43,969,052.

Wall Street Analyst Weigh In

CRCL has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Circle Internet Group from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Morgan Stanley initiated coverage on Circle Internet Group in a report on Monday, February 2nd. They set an “equal weight” rating and a $66.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on 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. HC Wainwright assumed coverage on Circle Internet Group in a research report on Friday, December 19th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Wall Street Zen raised Circle Internet Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.47.

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.