Bain Capital Public Equity Management II LLC Makes New Investment in Circle Internet Group, Inc. $CRCL

Bain Capital Public Equity Management II LLC bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 195,384 shares of the company’s stock, valued at approximately $35,421,000. Circle Internet Group comprises approximately 1.7% of Bain Capital Public Equity Management II LLC’s portfolio, making the stock its 18th biggest position.

Several other institutional investors have also modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of Circle Internet Group during the 2nd quarter valued at about $1,547,214,000. ARK Investment Management LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at about $530,165,000. Geode Capital Management LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $65,504,000. JPMorgan Chase & Co. purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $65,261,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $61,650,000.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Needham & Company LLC reduced their target price on 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. Wolfe Research initiated coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price target on the stock. Citizens Jmp initiated coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $94.00 to $100.00 in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and a consensus target price of $144.69.

Insider Activity

In other news, Director Rajeev V. Date sold 127,247 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $72.29, for a total transaction of $9,198,685.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Tamara L. Schulz sold 1,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $78.02, for a total value of $78,020.00. Following the completion of the transaction, the chief accounting officer owned 89,317 shares in the company, valued at approximately $6,968,512.34. The trade was a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 618,847 shares of company stock valued at $49,268,665 over the last quarter.

Circle Internet Group Stock Down 1.9%

CRCL opened at $83.97 on Tuesday. The business’s fifty day moving average is $109.89. Circle Internet Group, Inc. has a 12 month low of $64.00 and a 12 month high of $298.99.

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

Circle Internet Group Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.