ParaFi Capital LP Takes Position in Circle Internet Group, Inc. $CRCL

ParaFi Capital LP purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $793,000. Circle Internet Group accounts for approximately 0.2% of ParaFi Capital LP’s holdings, making the stock its 12th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares during the period. Travelers Companies Inc. acquired a new position in Circle Internet Group in the 4th quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Circle Internet Group by 98.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after buying an additional 1,276,310 shares during the period. CenterBook Partners LP increased its holdings in Circle Internet Group by 1,069.9% in the 3rd quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock worth $8,798,000 after buying an additional 60,685 shares during the period. Finally, Amova Asset Management Americas Inc. increased its holdings in Circle Internet Group by 222.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after buying an additional 892,359 shares during the period.

Insider Buying and Selling at Circle Internet Group

In related news, insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 50,000 shares of Circle Internet Group stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $81.30, for a total transaction of $4,065,000.00. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at $164,063.40. This represents a 96.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRCL shares. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Canaccord Genuity Group reiterated a “buy” rating and issued a $160.00 price target on shares of Circle Internet Group in a report on Wednesday, March 25th. Morgan Stanley increased their price target on shares of Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Mizuho cut their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $134.18.

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $77.85 on Monday. The stock has a market capitalization of $19.35 billion and a price-to-earnings ratio of -24.33. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The firm’s 50 day simple moving average is $101.91 and its 200-day simple moving average is $89.97.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was up 20.0% on a year-over-year basis. Analysts anticipate that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal 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.