Circle Internet Group, Inc. $CRCL Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,051,014 shares of the company’s stock after acquiring an additional 51,435 shares during the period. Geode Capital Management LLC’s holdings in Circle Internet Group were worth $83,369,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group during the 2nd quarter valued at $3,647,694,000. Accel XI Associates L.L.C. acquired a new stake in Circle Internet Group during the 4th quarter valued at $513,844,000. Vanguard Group Inc. grew its holdings in Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after purchasing an additional 74,414 shares in the last quarter. ARK Investment Management LLC grew its holdings in Circle Internet Group by 1.5% during the 3rd quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company’s stock valued at $393,357,000 after purchasing an additional 42,537 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Circle Internet Group by 98.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock valued at $204,252,000 after purchasing an additional 1,276,310 shares in the last quarter.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $80.19 on Monday. The firm has a market cap of $19.93 billion and a P/E ratio of -25.06. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The firm has a fifty day moving average of $103.19 and a two-hundred day moving average of $89.64.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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). 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 for the quarter. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Insider Buying and Selling at Circle Internet Group

In other news, Director M Michele Burns sold 11,670 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $112.71, for a total value of $1,315,325.70. Following the transaction, the director directly owned 343,538 shares in the company, valued at approximately $38,720,167.98. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nikhil Chandhok sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $123.08, for a total transaction of $1,230,800.00. Following the completion of the transaction, the insider owned 540,376 shares in the company, valued at approximately $66,509,478.08. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 236,617 shares of company stock valued at $25,045,808. Corporate insiders own 10.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Mizuho decreased their price objective on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a report on Friday. Zacks Research raised shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. HC Wainwright raised shares of Circle Internet Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Finally, Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. 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. Based on data from MarketBeat, Circle Internet Group has an average rating of “Hold” and a consensus price target of $134.18.

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.