Norges Bank Makes New $60.70 Million Investment in Circle Internet Group, Inc. $CRCL

Norges Bank acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 765,502 shares of the company’s stock, valued at approximately $60,704,000.

Several other large investors have also made changes to their positions in the business. Foundations Investment Advisors LLC boosted its holdings in shares of Circle Internet Group by 1,179.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 33,606 shares of the company’s stock valued at $2,665,000 after acquiring an additional 30,979 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Circle Internet Group in the 4th quarter valued at $953,000. Geode Capital Management LLC boosted its holdings in shares of Circle Internet Group by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 1,051,014 shares of the company’s stock valued at $83,369,000 after acquiring an additional 51,435 shares during the last quarter. Harbour Investments Inc. boosted its holdings 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 valued at $30,000 after acquiring an additional 238 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Circle Internet Group by 1,292.2% in the 4th quarter. Legal & General Group Plc now owns 126,091 shares of the company’s stock valued at $9,999,000 after acquiring an additional 117,034 shares during the last quarter.

Insiders Place Their Bets

In other news, Director M Michele Burns sold 10,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $120.15, for a total value of $1,201,500.00. Following the completion of the sale, the director directly owned 330,206 shares in the company, valued at $39,674,250.90. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 3,819 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $115.00, for a total transaction of $439,185.00. Following the completion of the sale, the director owned 152,328 shares of the company’s stock, valued at $17,517,720. This trade represents a 2.45% 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. Over the last three months, insiders sold 236,617 shares of company stock valued at $25,045,808. Corporate insiders own 10.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRCL shares. KeyCorp started coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, February 25th. Compass Point reiterated a “sell” rating and issued a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Wells Fargo & Company boosted their target price on shares of 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, Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $134.18.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $80.19 on Monday. The company has a fifty day moving average of $103.19 and a two-hundred day moving average of $89.64. The stock has a market capitalization of $19.93 billion and a PE ratio of -25.06. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data 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). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The firm’s revenue was up 20.0% compared to the same quarter last year. Research analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

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.