Renaissance Capital LLC Takes $6.79 Million Position in Circle Internet Group, Inc. $CRCL

Renaissance Capital LLC acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,208 shares of the company’s stock, valued at approximately $6,789,000. Circle Internet Group accounts for about 3.8% of Renaissance Capital LLC’s holdings, making the stock its 10th largest holding.

Several other institutional investors have also recently bought and sold shares of CRCL. Aljian Capital Management LLC grew its stake in shares of Circle Internet Group by 522.0% during the 3rd quarter. Aljian Capital Management LLC now owns 8,615 shares of the company’s stock worth $1,142,000 after acquiring an additional 7,230 shares in the last quarter. Chesapeake Asset Management LLC acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at approximately $147,000. Indiana Trust & Investment Management Co bought a new position in shares of Circle Internet Group in the 3rd quarter valued at about $171,000. Castle Rock Wealth Management LLC grew its stake in Circle Internet Group by 22.4% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 9,471 shares of the company’s stock valued at $1,352,000 after buying an additional 1,736 shares during the last quarter. Finally, Connective Portfolio Management LLC acquired a new stake in Circle Internet Group during the third quarter worth approximately $401,000.

Insider Buying and Selling

In related news, CEO Jeremy Allaire sold 7,055 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total transaction of $635,443.85. Following the completion of the transaction, the chief executive officer directly owned 70,517 shares in the company, valued at $6,351,466.19. This represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Heath Tarbert sold 3,048 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96. Following the sale, the president directly owned 579,302 shares in the company, valued at approximately $52,148,766.04. The trade was a 0.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 717,651 shares of company stock worth $58,162,154 in the last quarter.

Circle Internet Group Price Performance

Shares of NYSE:CRCL opened at $79.84 on Wednesday. Circle Internet Group, Inc. has a 1 year low of $64.00 and a 1 year high of $298.99. The company’s 50 day simple moving average is $92.22 and its 200 day simple moving average is $136.20.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The business’s quarterly revenue was up 65.9% on a year-over-year basis.

Analyst Ratings Changes

CRCL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th. Rothschild Redb raised shares of Circle Internet Group to a “hold” rating in a research report on Friday, October 3rd. Needham & Company LLC lowered their price target on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Robert W. Baird dropped their price target on shares of Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus price target of $141.18.

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 USD Coin (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.