Continuum Advisory LLC Takes Position in Circle Internet Group, Inc. $CRCL

Continuum Advisory LLC bought a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,704 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the second quarter valued at about $27,000. PNC Financial Services Group Inc. grew its stake in shares of Circle Internet Group by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after buying an additional 151 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the period. Harbour Investments Inc. increased its holdings in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after buying an additional 238 shares during the period. Finally, Montag A & Associates Inc. bought a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $33,000.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $76.07 on Tuesday. The firm has a market capitalization of $18.91 billion and a P/E ratio of -23.77. The stock has a 50 day moving average price of $97.88 and a 200-day moving average price of $89.73. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $262.97.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data 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). 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 during the quarter. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRCL has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Thursday, June 11th. KeyCorp initiated coverage on Circle Internet Group in a research note on Tuesday, May 26th. They set a “sector weight” rating for the company. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $150.00 in a report on Monday, May 18th. 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. Finally, Wells Fargo & Company upped their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.53.

Insider Buying and Selling

In related news, President Heath Tarbert sold 39,240 shares of Circle Internet Group stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total transaction of $3,196,882.80. Following the completion of the transaction, the president directly owned 502,558 shares of the company’s stock, valued at $40,943,400.26. This trade represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 489,737 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total transaction of $35,442,266.69. Following the sale, the insider directly owned 521,809 shares in the company, valued at $37,763,317.33. The trade was a 48.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 1,895,721 shares of company stock worth $154,303,103 over the last 90 days. Corporate insiders own 10.85% of the company’s stock.

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.