562,678 Shares in Circle Internet Group, Inc. $CRCL Purchased by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, HoldingsChannel reports. The fund acquired 562,678 shares of the company’s stock, valued at approximately $44,620,000. Circle Internet Group makes up approximately 2.2% of Contrarius Group Holdings Ltd’s portfolio, making the stock its 14th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC purchased a new stake in Circle Internet Group during the fourth quarter worth about $25,000. Larson Financial Group LLC grew its holdings in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $27,000. Bellevue Asset Management LLC acquired a new stake in shares of Circle Internet Group in the 4th quarter worth approximately $29,000. Finally, Harbour Investments Inc. grew its holdings in shares of Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Needham & Company LLC raised their price target on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Robert W. Baird raised their price target on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, KeyCorp started coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $134.18.

Insider Buying and Selling at Circle Internet Group

In related news, Director M Michele Burns sold 10,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total transaction of $1,201,500.00. Following the sale, the director owned 330,206 shares of the company’s stock, valued at $39,674,250.90. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, Director Danita K. Ostling sold 1,200 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $132.06, for a total value of $158,472.00. Following the sale, the director directly owned 22,590 shares in the company, valued at approximately $2,983,235.40. The trade was a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 236,617 shares of company stock valued at $25,045,808. 10.85% of the stock is owned by company insiders.

Circle Internet Group Stock Performance

CRCL stock opened at $80.19 on Monday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The stock’s 50 day moving average price is $103.19 and its 200 day moving average price is $89.64. The firm has a market cap of $19.93 billion and a P/E ratio of -25.06.

Circle Internet Group (NYSE:CRCL) last posted 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 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 company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

About Circle Internet Group

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.