California Public Employees Retirement System Invests $13.31 Million in Circle Internet Group, Inc. $CRCL

California Public Employees Retirement System purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 139,507 shares of the company’s stock, valued at approximately $13,310,000. California Public Employees Retirement System owned 0.06% of Circle Internet Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC acquired a new stake in Circle Internet Group in the first quarter valued at $519,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Circle Internet Group in the first quarter valued at about $21,761,000. Bastion Asset Management Inc. acquired a new stake in shares of Circle Internet Group in the first quarter valued at about $2,733,000. Bank of New York Mellon Corp boosted its holdings in Circle Internet Group by 112.3% during the first quarter. Bank of New York Mellon Corp now owns 221,544 shares of the company’s stock worth $21,137,000 after buying an additional 117,167 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Circle Internet Group by 56.1% during the first quarter. Sanctuary Advisors LLC now owns 14,127 shares of the company’s stock worth $1,348,000 after buying an additional 5,078 shares in the last quarter.

Circle Internet Group Price Performance

Shares of CRCL opened at $62.48 on Friday. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $197.90. The stock has a market cap of $15.53 billion and a price-to-earnings ratio of -19.52. The firm has a 50 day simple moving average of $80.91 and a 200-day simple moving average of $87.28.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts expect that Circle Internet Group, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRCL. Compass Point set a $62.00 target price on shares of Circle Internet Group in a report on Wednesday, July 15th. Mizuho restated an “underperform” rating and issued a $50.00 price target (down from $85.00) on shares of Circle Internet Group in a report on Tuesday, July 14th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $150.00 in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a report on Tuesday, May 12th. Finally, KeyCorp initiated coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.25.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $82.93, for a total value of $4,660,666.00. Following the transaction, the chief executive officer directly owned 510,579 shares in the company, valued at approximately $42,342,316.47. This represents a 9.92% decrease in their position. 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 Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52. Following the sale, the director owned 2,018 shares of the company’s stock, valued at approximately $167,231.66. This trade represents a 99.81% 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. Insiders have sold a total of 1,956,527 shares of company stock worth $155,711,921 in the last ninety days. Company insiders own 10.85% of the company’s stock.

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.