GC Wealth Management RIA LLC Cuts Stake in Circle Internet Group, Inc. $CRCL

GC Wealth Management RIA LLC decreased its position in Circle Internet Group, Inc. (NYSE:CRCL) by 73.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,091 shares of the company’s stock after selling 167,980 shares during the period. GC Wealth Management RIA LLC’s holdings in Circle Internet Group were worth $5,829,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Circle Internet Group by 17.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock valued at $20,239,000 after purchasing an additional 38,567 shares during the last quarter. Travelers Companies Inc. purchased a new stake in Circle Internet Group in the 4th quarter valued at about $9,557,000. Sumitomo Mitsui Trust Group Inc. grew 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 valued at $204,252,000 after buying an additional 1,276,310 shares during the period. Fifth Third Bancorp acquired a new position in shares of Circle Internet Group during the 1st quarter valued at about $7,282,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Circle Internet Group during the 4th quarter worth about $25,027,000.

Circle Internet Group Trading Down 6.1%

NYSE:CRCL opened at $62.15 on Friday. The firm’s fifty day simple moving average is $81.95 and its 200 day simple moving average is $87.46. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $201.25. The firm has a market capitalization of $15.45 billion and a price-to-earnings ratio of -19.42.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 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 company had revenue of $694.13 million during the quarter. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts predict that Circle Internet Group, Inc. will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

CRCL has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on shares of Circle Internet Group in a report on Tuesday. They issued a “market perform” rating for the company. KeyCorp started coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Morgan Stanley upped their price objective on Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Finally, HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.25.

Insider Buying and Selling at Circle Internet Group

In other news, CAO Tamara L. Schulz sold 1,194 shares of Circle Internet Group stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total transaction of $76,893.60. Following the sale, the chief accounting officer owned 85,871 shares in the company, valued at $5,530,092.40. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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, CEO Jeremy Allaire sold 3,032 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $67.16, for a total transaction of $203,629.12. Following the completion of the transaction, the chief executive officer owned 63,346 shares of the company’s stock, valued at $4,254,317.36. This trade represents a 4.57% decrease in their ownership of the stock. 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 quarter, insiders sold 1,956,527 shares of company stock worth $155,711,921. Insiders own 10.85% of the company’s stock.

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.