Truist Financial Corp Purchases Shares of 8,112 Circle Internet Group, Inc. $CRCL

Truist Financial Corp bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, Holdings Channel.com reports. The firm bought 8,112 shares of the company’s stock, valued at approximately $643,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its position 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. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group in the third quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group in the second quarter worth about $27,000. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter worth about $29,000.

Insiders Place Their Bets

In related news, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director M Michele Burns sold 80,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.88, for a total value of $7,590,400.00. Following the completion of the transaction, the director owned 305,230 shares in the company, valued at approximately $28,960,222.40. This trade represents a 20.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 618,664 shares of company stock valued at $60,410,221. Insiders own 10.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CRCL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Robert W. Baird upped their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. Morgan Stanley set a $80.00 target price on Circle Internet Group in a research report on Monday, April 20th. Finally, Needham & Company LLC upped their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Circle Internet Group has an average rating of “Hold” and an average target price of $135.59.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $111.48 on Tuesday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The business’s 50-day simple moving average is $106.99 and its 200 day simple moving average is $89.61. The stock has a market cap of $27.52 billion and a price-to-earnings ratio of -34.84.

Circle Internet Group (NYSE:CRCL) last released 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). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million during the quarter. The business’s revenue was up 20.0% on a year-over-year basis. On average, equities research analysts predict that Circle Internet Group, Inc. will post 0.86 EPS for the current year.

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.