Sumitomo Mitsui Trust Group Inc. Acquires New Stake in Circle Internet Group, Inc. $CRCL

Sumitomo Mitsui Trust Group Inc. purchased a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 340,065 shares of the company’s stock, valued at approximately $61,650,000. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Circle Internet Group at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new stake in Circle Internet Group in the 2nd quarter worth about $34,000. Hennessy Advisors Inc. acquired a new stake in Circle Internet Group in the 2nd quarter worth about $36,000. Compagnie Lombard Odier SCmA acquired a new stake in Circle Internet Group in the 2nd quarter worth about $79,000. CWM LLC acquired a new stake in Circle Internet Group in the 2nd quarter worth about $115,000. Finally, Westbourne Investments Inc. acquired a new stake in Circle Internet Group in the 2nd quarter worth about $204,000.

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 33,608 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total value of $4,081,691.60. Following the completion of the sale, the chief financial officer directly owned 297,823 shares of the company’s stock, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick Sean Neville sold 260,374 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $33,088,327.92. The disclosure for this sale can be found here. Insiders sold 831,014 shares of company stock worth $105,416,046 in the last three months.

Circle Internet Group Stock Up 9.2%

NYSE:CRCL opened at $141.80 on Monday. Circle Internet Group, Inc. has a 12-month low of $64.00 and a 12-month high of $298.99. The firm’s 50 day moving average is $132.16. The firm has a market cap of $32.53 billion and a price-to-earnings ratio of -11,205.63.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($4.82). The firm had revenue of $658.08 million during the quarter, compared to analyst estimates of $645.35 million. Circle Internet Group’s quarterly revenue was up 53.0% compared to the same quarter last year.

Analyst Ratings Changes

A number of brokerages have issued reports on CRCL. Sanford C. Bernstein began coverage on Circle Internet Group in a research note on Monday, June 30th. They issued an “outperform” rating and a $230.00 price target on the stock. Rothschild & Co Redburn assumed coverage on Circle Internet Group in a report on Friday, October 3rd. They issued a “neutral” rating and a $136.00 price objective on the stock. Citizens Jmp assumed coverage on Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Friday. Finally, Barclays assumed coverage on Circle Internet Group in a report on Monday, June 30th. They issued an “overweight” rating and a $215.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $165.43.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.