DekaBank Deutsche Girozentrale Acquires New Shares in Circle Internet Group, Inc. $CRCL

DekaBank Deutsche Girozentrale bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,700 shares of the company’s stock, valued at approximately $928,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new position in Circle Internet Group in the 3rd quarter valued at $2,491,000. CloudAlpha Capital Management Limited Hong Kong grew its holdings in shares of Circle Internet Group by 181.1% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock worth $37,648,000 after purchasing an additional 182,954 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Circle Internet Group in the third quarter worth approximately $3,248,000. Rheos Capital Works Inc. raised its stake in Circle Internet Group by 20.8% in the third quarter. Rheos Capital Works Inc. now owns 302,000 shares of the company’s stock valued at $40,039,000 after purchasing an additional 52,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter.

Circle Internet Group Stock Performance

Shares of CRCL opened at $102.24 on Thursday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The firm has a 50 day moving average price of $95.79 and a 200-day moving average price of $92.91. The firm has a market cap of $25.24 billion and a price-to-earnings ratio of -56.16.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The firm’s quarterly revenue was up 76.9% compared to the same quarter last year. As a group, equities research analysts predict that Circle Internet Group, Inc. will post 0.84 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. The Goldman Sachs Group lifted their price objective on shares of Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Freedom Capital raised Circle Internet Group to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and an average target price of $127.24.

Insider Buying and Selling

In related news, President Heath Tarbert sold 15,000 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $95.04, for a total transaction of $1,425,600.00. Following the completion of the sale, the president directly owned 561,168 shares in the company, valued at $53,333,406.72. This represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $95.00, for a total value of $120,935.00. Following the completion of the transaction, the director directly owned 152,328 shares in the company, valued at $14,471,160. This trade represents a 0.83% 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. Insiders have sold a total of 545,874 shares of company stock worth $52,991,625 in the last 90 days. 10.85% of the stock is currently owned by company insiders.

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.