Gables Capital Management Inc. Takes Position in Circle Internet Group, Inc. $CRCL

Gables Capital Management Inc. acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,100 shares of the company’s stock, valued at approximately $381,000.

Several other large investors also recently modified their holdings of the stock. North Star Investment Management Corp. bought a new position in shares of Circle Internet Group in the second quarter valued at about $34,000. Hennessy Advisors Inc. bought a new position in shares of Circle Internet Group in the second quarter valued at about $36,000. Compagnie Lombard Odier SCmA bought a new position in shares of Circle Internet Group in the second quarter valued at about $79,000. CWM LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $115,000. Finally, Westbourne Investments Inc. bought a new position in shares of Circle Internet Group in the second quarter valued at about $204,000.

Circle Internet Group Trading Down 0.5%

NYSE:CRCL opened at $130.16 on Wednesday. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99. The company has a market capitalization of $29.86 billion and a price-to-earnings ratio of -10,286.00. The business’s 50-day simple moving average is $133.07.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Tuesday, August 12th. The company reported ($4.48) EPS for the quarter, missing the consensus estimate of $0.34 by ($4.82). The business had revenue of $658.08 million for the quarter, compared to analysts’ expectations of $645.35 million. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, Director Rajeev V. Date sold 33,400 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $4,244,472.00. Following the transaction, the director directly owned 248,663 shares of the company’s stock, valued at $31,600,094.04. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Sean Neville sold 260,374 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $33,088,327.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 831,014 shares of company stock worth $105,416,046.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRCL. Rothschild & Co Redburn began coverage on shares of Circle Internet Group in a research report on Friday, October 3rd. They issued a “neutral” rating and a $136.00 price objective on the stock. Barclays began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an “overweight” rating and a $215.00 price target on the stock. Rothschild Redb raised shares of Circle Internet Group to a “hold” rating in a research report on Friday, October 3rd. Baird R W raised shares of Circle Internet Group to a “hold” rating in a research report on Friday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $247.00 price target on shares of Circle Internet Group in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.14.

Circle Internet Group Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.