Ascentis Independent Advisors Purchases Shares of 8,699 Circle Internet Group, Inc. $CRCL

Ascentis Independent Advisors purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the first quarter, Holdings Channel reports. The fund purchased 8,699 shares of the company’s stock, valued at approximately $830,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Circle Internet Group during the second quarter worth $295,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at $1,474,000. Invesco Ltd. acquired a new position in Circle Internet Group during the 2nd quarter worth about $47,640,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $27,000. Finally, Baird Financial Group Inc. acquired a new position in Circle Internet Group in the 2nd quarter valued at about $2,649,000.

Circle Internet Group Stock Down 5.0%

Shares of NYSE:CRCL opened at $65.20 on Wednesday. The firm’s 50 day moving average price is $93.40 and its 200 day moving average price is $88.96. The stock has a market cap of $16.21 billion and a price-to-earnings ratio of -20.38. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $262.97.

Circle Internet Group (NYSE:CRCL) last posted 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 positive return on equity of 2.89% and a negative net margin of 2.76%.The firm’s revenue was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRCL. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $150.00 in a research note on Monday, May 18th. Zacks Research upgraded shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Morgan Stanley upped their target price on shares of Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Finally, Mizuho decreased their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.38.

Insider Buying and Selling at Circle Internet Group

In related news, CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $82.93, for a total value of $4,660,666.00. Following the completion of the transaction, the chief executive officer directly owned 510,579 shares of the company’s stock, valued at $42,342,316.47. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the stock in a transaction that occurred on 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 owned 502,558 shares in the company, valued at $40,943,400.26. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,895,629 shares of company stock worth $152,495,542. Corporate 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.