J. Derek Lewis & Associates Inc. Purchases Shares of 18,622 Circle Internet Group, Inc. $CRCL

J. Derek Lewis & Associates Inc. purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 18,622 shares of the company’s stock, valued at approximately $1,477,000.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the second quarter valued at about $27,000. PNC Financial Services Group Inc. boosted its stake in Circle Internet Group by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after buying an additional 151 shares during the last quarter. Larson Financial Group LLC boosted its stake in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. Harbour Investments Inc. boosted its stake in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in Circle Internet Group during the 3rd quarter valued at approximately $33,000.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $80.46 on Friday. The company has a market cap of $20.00 billion and a PE ratio of -25.14. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The stock’s 50 day simple moving average is $100.79 and its two-hundred day simple moving average is $90.09.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million during the quarter. Circle Internet Group’s revenue was up 20.0% on a year-over-year basis. Equities research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRCL. Wells Fargo & Company upped their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research report on Thursday, June 11th. Compass Point reaffirmed a “sell” rating and set a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a research report on Tuesday, May 12th. Finally, Needham & Company LLC lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $134.18.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, insider Hossein Razzaghi sold 34,623 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,200 shares of the 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 completion of the sale, the chief executive officer directly owned 510,579 shares in the company, valued at approximately $42,342,316.47. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,415,984 shares of company stock valued at $120,091,637 over the last three months. Corporate insiders own 10.85% of the company’s stock.

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.