Accel XI Associates L.L.C. Makes New Investment in Circle Internet Group, Inc. $CRCL

Accel XI Associates L.L.C. purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 6,479,748 shares of the company’s stock, valued at approximately $513,844,000. Circle Internet Group makes up 100.0% of Accel XI Associates L.L.C.’s portfolio, making the stock its biggest holding.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the second quarter valued at $27,000. Larson Financial Group LLC grew its position in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Circle Internet Group in the 3rd quarter valued at $27,000. Montag A & Associates Inc. purchased a new stake in shares of Circle Internet Group during the 3rd quarter valued at about $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Circle Internet Group during the 3rd quarter worth approximately $35,000.

Insiders Place Their Bets

In related news, Director Rajeev V. Date sold 3,819 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $115.00, for a total transaction of $439,185.00. Following the completion of the sale, the director directly owned 152,328 shares in the company, valued at approximately $17,517,720. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Danita K. Ostling sold 1,200 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $132.06, for a total transaction of $158,472.00. Following the completion of the sale, the director directly owned 22,590 shares of the company’s stock, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 628,664 shares of company stock valued at $61,520,221. Insiders own 10.85% of the company’s stock.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $113.07 on Friday. The stock’s 50-day moving average is $107.13 and its 200 day moving average is $89.47. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a market cap of $27.91 billion and a P/E ratio of -35.33.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The firm had revenue of $694.13 million for the quarter. The business’s revenue was up 20.0% on a year-over-year basis. On average, analysts anticipate that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group restated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, JPMorgan Chase & Co. cut 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 report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and an average target price of $137.12.

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 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.