StoneX Group Inc. Buys New Stake in Circle Internet Group, Inc. $CRCL

StoneX Group Inc. purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,060 shares of the company’s stock, valued at approximately $1,440,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Circle Internet Group by 9.1% in the 2nd quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock worth $79,000 after buying an additional 106 shares in the last quarter. GAMMA Investing LLC grew its holdings in Circle Internet Group by 28.6% during the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock worth $45,000 after acquiring an additional 159 shares during the period. Raiffeisen Bank International AG grew its holdings in Circle Internet Group by 0.7% during the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after acquiring an additional 200 shares during the period. North Dakota State Investment Board raised its position in Circle Internet Group by 3.9% in the third quarter. North Dakota State Investment Board now owns 5,477 shares of the company’s stock worth $450,000 after acquiring an additional 205 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Circle Internet Group by 32.2% in the second quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock worth $61,000 after acquiring an additional 239 shares in the last quarter.

Circle Internet Group Stock Down 0.4%

Shares of Circle Internet Group stock opened at $67.62 on Tuesday. The stock’s fifty day moving average is $85.06 and its 200-day moving average is $85.61. The firm has a market capitalization of $17.17 billion, a PE ratio of 40.74 and a beta of 0.84. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $140.00.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, November 4th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.42 by $0.42. Circle Internet Group had a return on equity of 13.52% and a net margin of 15.27%. The business had revenue of $864.89 million during the quarter. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. Analysts expect that Circle Internet Group, Inc. will post 1.20 EPS for the current year.

Analysts Set New Price Targets

CRCL has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, August 5th. Zacks Research raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Susquehanna lowered their price objective on shares of Circle Internet Group from $92.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. BMO Capital Markets assumed coverage on shares of Circle Internet Group in a report on Thursday. They issued an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods cut their target price on shares of Circle Internet Group from $105.00 to $90.00 and set a “market perform” rating for the company in a research note on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.44.

Insider Buying and Selling

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 45,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the sale, the chief financial officer owned 323,837 shares in the company, valued at approximately $29,145,330. The trade was a 12.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,668 shares of the company’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the sale, the insider directly owned 715,331 shares of the company’s stock, valued at $56,933,194.29. This represents a 3.59% 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 90 days, insiders sold 405,204 shares of company stock worth $35,099,511. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Company Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications.

Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.