Spartan Wealth Advisory Services LLC Invests $1.12 Million in Circle Internet Group, Inc. $CRCL

Spartan Wealth Advisory Services LLC acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,721 shares of the company’s stock, valued at approximately $1,118,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRCL. Bartlett & CO. Wealth Management LLC purchased a new stake in Circle Internet Group in the fourth quarter worth approximately $25,000. Larson Financial Group LLC raised its stake in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at $27,000. Bellevue Asset Management LLC bought a new position in shares of Circle Internet Group during the 4th quarter valued at $29,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRCL. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. Susquehanna began coverage on Circle Internet Group in a report on Wednesday, July 1st. They issued a “neutral” rating and a $69.00 target price on the stock. The Goldman Sachs Group dropped their target price on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Freedom Capital upgraded Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.25.

Circle Internet Group Stock Down 0.0%

Shares of CRCL opened at $60.45 on Monday. The business has a 50-day simple moving average of $86.77 and a two-hundred day simple moving average of $87.86. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $262.97. The stock has a market cap of $15.03 billion and a price-to-earnings ratio of -18.89.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business’s revenue was up 20.0% compared to the same quarter last year. On average, equities analysts anticipate that Circle Internet Group, Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at Circle Internet Group

In other news, insider Hossein Razzaghi sold 1,831 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total transaction of $117,916.40. Following the sale, the insider directly owned 662,856 shares in the company, valued at $42,687,926.40. This trade represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, CAO Tamara L. Schulz sold 1,194 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total transaction of $76,893.60. Following the completion of the transaction, the chief accounting officer directly owned 85,871 shares of the company’s stock, valued at $5,530,092.40. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 1,966,527 shares of company stock valued at $156,751,921. Company insiders own 10.85% of the company’s stock.

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.