BBR Partners LLC Takes Position in Circle Internet Group, Inc. $CRCL

BBR Partners LLC bought a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,747 shares of the company’s stock, valued at approximately $852,000.

A number of other large investors have also recently made changes to their positions in CRCL. Creative Planning purchased a new stake in shares of Circle Internet Group during the second quarter valued at $295,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Circle Internet Group during the second quarter valued at $1,474,000. Invesco Ltd. purchased a new stake in shares of Circle Internet Group during the second quarter valued at $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter valued at $27,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Circle Internet Group during the second quarter valued at $2,649,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. Zacks Research raised shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Compass Point reaffirmed a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Needham & Company LLC upped their price objective on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $137.12.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Rajeev V. Date sold 3,819 shares of the 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 of the company’s stock, valued at approximately $17,517,720. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tamara L. Schulz sold 1,194 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $107.10, for a total transaction of $127,877.40. Following the sale, the chief accounting officer directly owned 90,829 shares of the company’s stock, valued at approximately $9,727,785.90. The trade was a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 236,617 shares of company stock valued at $25,045,808. 10.85% of the stock is currently owned by corporate insiders.

Circle Internet Group Price Performance

NYSE:CRCL opened at $90.84 on Friday. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a 50-day moving average of $103.66 and a 200 day moving average of $89.61. The firm has a market cap of $22.58 billion and a PE ratio of -28.39.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

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 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.