Circle Internet Group, Inc. $CRCL Shares Sold by Franchise Capital Ltd

Franchise Capital Ltd lessened its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 91.3% during the 3rd quarter, Holdings Channel reports. The firm owned 870 shares of the company’s stock after selling 9,130 shares during the quarter. Circle Internet Group comprises approximately 0.1% of Franchise Capital Ltd’s investment portfolio, making the stock its 25th largest position. Franchise Capital Ltd’s holdings in Circle Internet Group were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth $27,000. North Star Investment Management Corp. acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $34,000. Hennessy Advisors Inc. purchased a new position in Circle Internet Group in the 2nd quarter worth $36,000. Allworth Financial LP acquired a new stake in Circle Internet Group during the 2nd quarter worth about $37,000. Finally, Chilton Capital Management LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $40,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRCL. The Goldman Sachs Group raised their price objective on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Citizens Jmp started coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Mizuho decreased their price objective on shares of Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating for the company in a research note on Friday, November 14th. Finally, Robert W. Baird cut their price objective on shares of Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.29.

Insider Activity at Circle Internet Group

In other news, President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96. Following the sale, the president directly owned 579,302 shares in the company, valued at $52,148,766.04. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Fox-Geen sold 23,830 shares of Circle Internet Group stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,144,700.00. Following the completion of the transaction, the chief financial officer owned 282,173 shares of the company’s stock, valued at approximately $25,395,570. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 722,089 shares of company stock valued at $58,540,227 in the last quarter.

Circle Internet Group Trading Down 9.6%

Shares of NYSE:CRCL opened at $76.62 on Friday. Circle Internet Group, Inc. has a 12-month low of $64.00 and a 12-month high of $298.99. The business has a 50 day moving average of $81.91 and a two-hundred day moving average of $127.10. The company has a market capitalization of $18.04 billion and a PE ratio of -33.46.

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

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.