Maytus Capital Management LLC Takes $952,000 Position in Circle Internet Group, Inc. $CRCL

Maytus Capital Management LLC purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $952,000.

A number of other large investors also recently modified their holdings of the company. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP raised its position in Circle Internet Group by 23.8% during the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after purchasing an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. bought a new position in Circle Internet Group during the 4th quarter worth $554,792,000. Accel XI Associates L.L.C. bought a new position in Circle Internet Group during the 4th quarter worth $513,844,000. Finally, Vanguard Group Inc. raised its position 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 worth $448,292,000 after purchasing an additional 74,414 shares during the last quarter.

Insider Buying and Selling

In other news, Director Rajeev V. Date sold 1,273 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total value of $108,205.00. Following the completion of the sale, the director directly owned 154,346 shares in the company, valued at $13,119,410. This trade represents a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the sale, the president directly owned 502,558 shares of the company’s stock, valued at $40,943,400.26. This represents a 7.24% 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 worth $120,091,637 over the last 90 days. 10.85% of the stock is owned by company insiders.

Circle Internet Group Trading Down 4.7%

Shares of Circle Internet Group stock opened at $79.47 on Wednesday. The business has a 50-day moving average price of $101.56 and a two-hundred day moving average price of $90.11. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a market cap of $19.75 billion and a P/E ratio of -24.83.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share 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 business 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. Equities research analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRCL has been the subject of several analyst reports. Needham & Company LLC raised their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley raised their target price on Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Robert W. Baird raised their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $134.18.

Circle Internet Group 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.