Sigma Planning Corp Buys Shares of 16,321 Circle Internet Group, Inc. $CRCL

Sigma Planning Corp purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,321 shares of the company’s stock, valued at approximately $1,557,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning bought a new position in Circle Internet Group during the second quarter worth about $295,000. Arrowstreet Capital Limited Partnership purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $1,474,000. Invesco Ltd. bought a new stake in Circle Internet Group during the 2nd quarter valued at $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth $27,000. Finally, Baird Financial Group Inc. bought a new position in shares of Circle Internet Group in the second quarter worth $2,649,000.

Insider Buying and Selling

In other Circle Internet Group news, CEO Jeremy Allaire sold 3,032 shares of Circle Internet Group stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $67.16, for a total value of $203,629.12. Following the transaction, the chief executive officer directly owned 63,346 shares of the company’s stock, valued at $4,254,317.36. The trade was a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $63.90, for a total value of $1,703,957.40. Following the completion of the sale, the insider owned 725,068 shares of the company’s stock, valued at $46,331,845.20. The trade was a 3.55% 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. Insiders have sold a total of 1,966,527 shares of company stock worth $156,751,921 in the last 90 days. 10.85% of the stock is currently owned by company insiders.

Circle Internet Group Stock Performance

CRCL stock opened at $60.45 on Friday. The firm has a market cap of $15.03 billion and a P/E ratio of -18.89. The firm’s fifty day moving average is $86.77 and its 200 day moving average is $87.81. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $262.97.

Circle Internet Group (NYSE:CRCL) last posted its quarterly 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). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million for the quarter. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Circle Internet Group, Inc. will post 0.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a research report on Tuesday, May 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a report on Wednesday, March 25th. Robert W. Baird cut their price target on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Wells Fargo & Company upped their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.25.

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.