VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.41 Million in Circle Internet Group, Inc. $CRCL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 2nd quarter, Holdings Channel.com reports. The firm bought 38,458 shares of the company’s stock, valued at approximately $2,409,000.

Other institutional investors have also added to or reduced their stakes in the company. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the second quarter valued at about $3,647,694,000. California State Teachers Retirement System boosted its holdings in shares of Circle Internet Group by 222,662.5% in the 2nd quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after purchasing an additional 13,865,191 shares in the last quarter. IDG Accel China Capital II Associates L.P. purchased a new position in shares of Circle Internet Group in the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group during the 4th quarter valued at about $513,844,000. Finally, Southpoint Capital Advisors LP increased its position in shares of Circle Internet Group by 175.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after purchasing an additional 2,100,000 shares during the last quarter.

Circle Internet Group Stock Down 2.6%

NYSE:CRCL opened at $90.61 on Friday. The company has a fifty day moving average of $74.69 and a 200 day moving average of $89.92. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $159.47. The firm has a market capitalization of $23.00 billion, a P/E ratio of 62.06 and a beta of 0.59.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). The firm had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.48) earnings per share. As a group, analysts anticipate that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Insider Activity

In other news, Director Patrick Neville sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total transaction of $3,132,500.00. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at approximately $126,427.70. This represents a 96.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 45,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief financial officer directly owned 323,837 shares in the company, valued at $29,145,330. The trade was a 12.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,018,123 shares of company stock valued at $75,708,773. 10.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRCL shares. KeyCorp started coverage on Circle Internet Group in a research report on Tuesday, May 26th. They issued a “sector weight” rating for the company. Mizuho set a $45.00 target price on shares of Circle Internet Group and gave the company a “neutral” rating in a report on Friday, July 31st. TD Cowen upped their price target on shares of Circle Internet Group from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird lowered their target price on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average target price of $99.67.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.