IDG Accel China Capital GP II Associates Ltd. Invests $24.75 Million in Circle Internet Group, Inc. $CRCL

IDG Accel China Capital GP II Associates Ltd. purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 312,059 shares of the company’s stock, valued at approximately $24,746,000. Circle Internet Group makes up 100.0% of IDG Accel China Capital GP II Associates Ltd.’s investment portfolio, making the stock its biggest holding. IDG Accel China Capital GP II Associates Ltd. owned 0.13% of Circle Internet Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group in the second quarter worth $27,000. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of Circle Internet Group in the third quarter worth $33,000. National Bank of Canada FI bought a new position in shares of Circle Internet Group in the third quarter worth $37,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Circle Internet Group in the third quarter worth $39,000.

Insider Buying and Selling at Circle Internet Group

In other news, insider Hossein Razzaghi sold 34,623 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the completion of the sale, the insider directly owned 666,404 shares of the company’s stock, valued at $52,545,955.40. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction 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 sale, the insider directly owned 521,809 shares of the company’s stock, valued at approximately $43,701,503.75. This represents 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. Insiders sold a total of 1,415,984 shares of company stock valued at $120,091,637 over the last 90 days. 10.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CRCL. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Thursday. Robert W. Baird raised their target price on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Mizuho decreased their target price on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company raised their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $150.00 in a research note on Monday, May 18th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.18.

Circle Internet Group Stock Down 5.8%

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

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company had revenue of $694.13 million for the quarter. Circle Internet Group’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.02 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.