Hennessy Advisors Inc. Takes $36,000 Position in Circle Internet Group, Inc. $CRCL

Hennessy Advisors Inc. acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds have also made changes to their positions in the stock. North Star Investment Management Corp. acquired a new stake in Circle Internet Group in the 2nd quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in Circle Internet Group in the 2nd quarter worth approximately $79,000. Westbourne Investments Inc. bought a new position in Circle Internet Group in the 2nd quarter worth approximately $204,000. Truist Financial Corp bought a new position in Circle Internet Group in the 2nd quarter worth approximately $218,000. Finally, Masso Torrence Wealth Management Inc. bought a new position in Circle Internet Group in the 2nd quarter worth approximately $245,000.

Circle Internet Group Trading Down 2.6%

Shares of CRCL stock opened at $145.81 on Monday. The company has a fifty day moving average of $140.53. The firm has a market cap of $33.45 billion and a price-to-earnings ratio of -11,522.92. Circle Internet Group, Inc. has a one year low of $64.00 and a one year high of $298.99.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Redburn Partners set a $136.00 price target on Circle Internet Group in a research report on Friday. JPMorgan Chase & Co. lifted their price target on Circle Internet Group from $80.00 to $89.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 19th. Rothschild Redb raised Circle Internet Group to a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group began coverage on Circle Internet Group in a report on Tuesday, August 12th. They set a “neutral” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average target price of $165.54.

Insiders Place Their Bets

In related news, insider Nikhil Chandhok sold 50,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $6,354,000.00. Following the sale, the insider owned 530,803 shares of the company’s stock, valued at $67,454,445.24. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick Sean Neville sold 260,374 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 over the last quarter.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.