Circle Internet Group, Inc. $CRCL Stock Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Circle Internet Group, Inc. (NYSE:CRCL) by 24.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,970,939 shares of the company’s stock after acquiring an additional 785,213 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Circle Internet Group were worth $326,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CRCL. Public Employees Retirement System of Ohio purchased a new stake in Circle Internet Group in the 2nd quarter valued at $5,539,000. Fifth Third Bancorp acquired a new stake in Circle Internet Group during the 1st quarter worth $7,282,000. SBI Holdings USA Inc. acquired a new stake in Circle Internet Group during the 2nd quarter worth $101,084,820. Handelsbanken Fonder AB purchased a new position in Circle Internet Group during the 2nd quarter worth $6,804,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Circle Internet Group during the 1st quarter worth $21,761,000.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. HC Wainwright dropped their price objective on shares of Circle Internet Group from $115.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, August 5th. Wolfe Research increased their target price on shares of Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 25th. Mizuho set a $43.00 price target on Circle Internet Group in a report on Monday, October 26th. Finally, Canaccord Genuity Group dropped their price target on Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and a consensus price target of $98.12.

Insider Activity at Circle Internet Group

In other news, CEO Jeremy Allaire sold 56,200 shares of Circle Internet Group stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $62.03, for a total value of $3,486,086.00. Following the sale, the chief executive officer owned 398,179 shares of the company’s stock, valued at $24,699,043.37. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Neville sold 50,000 shares of Circle Internet Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $2,977,500.00. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at approximately $120,171.90. The trade was a 96.12% 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 have sold 500,657 shares of company stock worth $40,557,306 in the last 90 days. Corporate insiders own 10.85% of the company’s stock.

Circle Internet Group Price Performance

Circle Internet Group stock opened at $72.35 on Friday. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $140.00. The business has a 50 day simple moving average of $87.28 and a 200-day simple moving average of $85.81. The stock has a market capitalization of $18.37 billion, a PE ratio of 49.55 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last issued 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). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The company had revenue of $701.32 million for the quarter. During the same period in the previous year, the company posted ($4.48) earnings per share. Circle Internet Group’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Circle Internet Group, Inc. will post 1.12 EPS for the current year.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.