Oddo BHF Asset Management Sas Boosts Position in Circle Internet Group, Inc. $CRCL

Oddo BHF Asset Management Sas raised its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,538 shares of the company’s stock after acquiring an additional 10,476 shares during the period. Oddo BHF Asset Management Sas’ holdings in Circle Internet Group were worth $6,348,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Planning acquired a new stake in shares of Circle Internet Group in the second quarter worth $295,000. Arrowstreet Capital Limited Partnership acquired a new position in Circle Internet Group during the second quarter valued at $1,474,000. Invesco Ltd. acquired a new position in Circle Internet Group during the second quarter valued at $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group in the second quarter valued at $27,000. Finally, Baird Financial Group Inc. purchased a new stake in Circle Internet Group in the second quarter valued at $2,649,000.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CEO Jeremy Allaire sold 56,200 shares of Circle Internet Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the sale, the chief executive officer owned 510,579 shares of the company’s stock, valued at $42,342,316.47. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hossein Razzaghi sold 34,623 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares of the company’s stock, valued at $52,545,955.40. The trade was a 4.94% 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. Insiders sold 1,956,527 shares of company stock worth $155,711,921 in the last quarter. 10.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRCL has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a research note on Tuesday, May 12th. Raymond James Financial started coverage on Circle Internet Group in a report on Tuesday, July 21st. They set a “market perform” rating on the stock. Needham & Company LLC lifted 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. Sanford C. Bernstein reissued an “outperform” rating and issued a $140.00 price target on shares of Circle Internet Group in a report on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Circle Internet Group in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and an average target price of $110.12.

Circle Internet Group Trading Down 4.8%

NYSE:CRCL opened at $61.26 on Thursday. The stock has a 50 day moving average of $78.05 and a two-hundred day moving average of $86.90. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $193.33. The firm has a market cap of $15.23 billion and a P/E ratio of -19.14.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during 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 quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts forecast that Circle Internet Group, Inc. will post 0.86 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.