Circle Internet Group, Inc. $CRCL Position Trimmed by IDG China Capital Fund III Associates L.P.

IDG China Capital Fund III Associates L.P. lessened its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 9.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,965,659 shares of the company’s stock after selling 1,061,028 shares during the quarter. Circle Internet Group comprises about 98.6% of IDG China Capital Fund III Associates L.P.’s portfolio, making the stock its largest holding. IDG China Capital Fund III Associates L.P.’s holdings in Circle Internet Group were worth $790,277,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the second quarter worth about $3,647,694,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the fourth quarter worth about $513,844,000. Vanguard Group Inc. grew its holdings 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 worth $739,624,000 after purchasing an additional 2,126,072 shares during the period. Renaissance Technologies LLC purchased a new stake in Circle Internet Group in the fourth quarter worth about $163,948,000. Finally, SBI Holdings USA Inc. purchased a new stake in Circle Internet Group in the fourth quarter worth about $127,990,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRCL shares. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and issued a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Wells Fargo & Company upped their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Mizuho dropped their target price on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.18.

Insider Transactions at Circle Internet Group

In other news, President Heath Tarbert sold 39,240 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president owned 502,558 shares in the company, valued at approximately $40,943,400.26. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 1,034,396 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52. Following the completion of the transaction, the director owned 2,018 shares in the company, valued at approximately $167,231.66. This represents a 99.81% 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. In the last quarter, insiders have sold 1,415,984 shares of company stock valued at $120,091,637. 10.85% of the stock is currently owned by insiders.

Circle Internet Group Stock Performance

Shares of NYSE CRCL opened at $77.85 on Friday. The firm’s 50 day moving average price is $101.91 and its 200-day moving average price is $89.84. The company has a market cap of $19.35 billion and a PE ratio of -24.33. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Circle Internet Group Company 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.