Short Interest in Circle Internet Group, Inc. (NYSE:CRCL) Expands By 33.6%

Circle Internet Group, Inc. (NYSE:CRCL) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 14,636,079 shares, an increase of 33.6% from the December 31st total of 10,952,651 shares. Based on an average daily volume of 9,122,993 shares, the short-interest ratio is presently 1.6 days. Approximately 6.2% of the company’s shares are sold short. Approximately 6.2% of the company’s shares are sold short. Based on an average daily volume of 9,122,993 shares, the short-interest ratio is presently 1.6 days.

Insider Activity

In related news, insider Nikhil Chandhok sold 10,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 474,974 shares in the company, valued at $42,747,660. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Heath Tarbert sold 3,048 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96. Following the completion of the transaction, the president directly owned 579,302 shares of the company’s stock, valued at approximately $52,148,766.04. The trade was a 0.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 722,089 shares of company stock worth $58,540,227.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in shares of Circle Internet Group during the 4th quarter valued at approximately $451,000. Crestwood Advisors Group LLC bought a new stake in Circle Internet Group during the fourth quarter valued at about $342,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Circle Internet Group by 92.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 73,961 shares of the company’s stock valued at $6,174,000 after acquiring an additional 35,461 shares in the last quarter. Pilgrim Partners Asia Pte Ltd grew its position in shares of Circle Internet Group by 25,000.0% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 50,200 shares of the company’s stock worth $3,981,000 after purchasing an additional 50,000 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Circle Internet Group by 35.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 28,945 shares of the company’s stock valued at $2,295,000 after purchasing an additional 7,590 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Circle Internet Group in a research note on Monday. They issued an “equal weight” rating and a $66.00 price target on the stock. William Blair restated an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Sanford C. Bernstein set a $190.00 target price on Circle Internet Group in a research note on Tuesday, January 6th. Wells Fargo & Company dropped their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $94.00 to $100.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Circle Internet Group presently has an average rating of “Hold” and a consensus target price of $132.56.

Circle Internet Group Trading Down 6.0%

NYSE CRCL traded down $3.51 during trading hours on Tuesday, hitting $55.35. 13,800,917 shares of the company’s stock traded hands, compared to its average volume of 10,480,481. Circle Internet Group has a 52 week low of $53.76 and a 52 week high of $298.99. The firm has a market capitalization of $13.03 billion and a P/E ratio of -24.13. The business’s fifty day moving average price is $79.13 and its two-hundred day moving average price is $115.16.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million for the quarter. The firm’s quarterly revenue was up 65.9% on a year-over-year basis.

About Circle Internet Group

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 USD Coin (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.