88,440 Shares in Circle Internet Group, Inc. $CRCL Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,440 shares of the company’s stock, valued at approximately $5,539,000.

Other large investors have also bought and sold shares of the company. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP raised its position in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after acquiring an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. bought a new position in shares of Circle Internet Group during the fourth quarter worth about $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group in the fourth quarter worth approximately $513,844,000. Finally, Vanguard Group Inc. lifted its stake in shares of Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock worth $448,292,000 after acquiring an additional 74,414 shares during the period.

Insider Activity at Circle Internet Group

In related news, insider Nikhil Chandhok sold 489,737 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $72.37, for a total transaction of $35,442,266.69. Following the transaction, the insider directly owned 521,809 shares of the company’s stock, valued at $37,763,317.33. This represents a 48.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Patrick Sean Neville sold 1,034,396 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52. Following the completion of the sale, the director owned 2,018 shares of the company’s stock, valued at $167,231.66. The trade was a 99.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,100,971 shares of company stock worth $163,146,343 over the last ninety days. 10.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $81.00 target price on shares of Circle Internet Group in a research report on Tuesday, August 25th. Sanford C. Bernstein restated an “outperform” rating and issued a $140.00 price target on shares of Circle Internet Group in a research report on Wednesday, July 29th. Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research note on Wednesday, July 15th. KeyCorp initiated coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating for the company. Finally, Robert W. Baird lowered their target price on shares of 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 analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $99.35.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $88.78 on Thursday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $159.47. The stock has a 50 day simple moving average of $71.12 and a two-hundred day simple moving average of $88.39. The company has a market cap of $22.54 billion, a P/E ratio of 60.81 and a beta of 0.56.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The business had revenue of $701.32 million for the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned ($4.48) EPS. On average, research analysts predict that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Circle Internet Group Company 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.