Clear Street Group Inc. Increases Position in Circle Internet Group, Inc. $CRCL

Clear Street Group Inc. increased its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 154.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,605,509 shares of the company’s stock after buying an additional 973,552 shares during the quarter. Circle Internet Group comprises about 0.5% of Clear Street Group Inc.’s holdings, making the stock its 15th largest position. Clear Street Group Inc.’s holdings in Circle Internet Group were worth $127,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth approximately $27,000. PNC Financial Services Group Inc. raised its position in Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after buying an additional 151 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. Harbour Investments Inc. lifted its stake in shares of Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares during the period. Finally, Montag A & Associates Inc. purchased a new stake in shares of Circle Internet Group in the third quarter valued at about $33,000.

Circle Internet Group Stock Down 5.8%

Shares of CRCL opened at $77.85 on Friday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The company has a 50-day simple moving average of $101.91 and a 200-day simple moving average of $89.84. The company has a market capitalization of $19.35 billion and a PE ratio of -24.33.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data 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 for the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of recent analyst reports. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. KeyCorp began coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They issued a “sector weight” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.18.

Insider Activity at Circle Internet Group

In related news, Director Patrick Sean Neville sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00. Following the sale, the director owned 2,018 shares in the company, valued at $164,063.40. This represents a 96.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $83.75, for a total value of $2,233,277.50. Following the completion of the transaction, the insider directly owned 521,809 shares of the company’s stock, valued at $43,701,503.75. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is currently owned by company insiders.

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.