Cambient Family Office LLC Has $1.77 Million Position in Circle Internet Group, Inc. $CRCL

Cambient Family Office LLC increased its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 291.9% in the first quarter, Holdings Channel reports. The firm owned 18,585 shares of the company’s stock after buying an additional 13,843 shares during the quarter. Cambient Family Office LLC’s holdings in Circle Internet Group were worth $1,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRCL. Rockefeller Capital Management L.P. increased its position in shares of Circle Internet Group by 17.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock valued at $20,239,000 after buying an additional 38,567 shares in the last quarter. Travelers Companies Inc. bought a new stake in Circle Internet Group during the 4th quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Circle Internet Group by 98.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after purchasing an additional 1,276,310 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Circle Internet Group during the 4th quarter worth approximately $25,027,000. Finally, Amova Asset Management Americas Inc. raised its holdings in Circle Internet Group by 222.1% during 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.

Circle Internet Group Trading Up 6.9%

Shares of Circle Internet Group stock opened at $73.55 on Friday. The company has a 50 day moving average of $98.51 and a 200-day moving average of $89.78. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $262.97. The company has a market cap of $18.28 billion and a PE ratio of -22.98.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The business 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%.Circle Internet Group’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Insider Activity

In related news, President Heath Tarbert sold 39,240 shares of the business’s stock in a transaction 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 $40,943,400.26. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $82.93, for a total value of $4,660,666.00. Following the sale, the chief executive officer owned 510,579 shares in the company, valued at approximately $42,342,316.47. The trade was a 9.92% 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. In the last three months, insiders have sold 1,895,721 shares of company stock valued at $154,303,103. 10.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Clear Str raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a research report on Tuesday, May 12th. Needham & Company LLC upped their target price on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Finally, Compass Point reissued a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $134.18.

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.