Emerald Mutual Fund Advisers Trust Acquires New Stake in Circle Internet Group, Inc. $CRCL

Emerald Mutual Fund Advisers Trust purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the 2nd quarter, HoldingsChannel reports. The fund purchased 287 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $34,000. Hennessy Advisors Inc. acquired a new stake in shares of Circle Internet Group during the second quarter worth $36,000. Chilton Capital Management LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth $40,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Circle Internet Group during the second quarter worth $79,000. Finally, CWM LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth $115,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRCL shares. Citigroup started coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Circle Internet Group from $163.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, August 20th. Compass Point downgraded shares of Circle Internet Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $205.00 to $130.00 in a research report on Monday, July 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $247.00 price objective on shares of Circle Internet Group in a research report on Thursday, September 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Circle Internet Group in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and a consensus target price of $165.43.

Circle Internet Group Stock Down 6.8%

Shares of Circle Internet Group stock opened at $122.82 on Friday. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99. The firm has a 50 day moving average price of $131.93.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($4.48) EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($4.82). The business had revenue of $658.08 million during the quarter, compared to analysts’ expectations of $645.35 million. The firm’s revenue was up 53.0% on a year-over-year basis.

Insiders Place Their Bets

In other news, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the completion of the transaction, the chief financial officer directly owned 297,823 shares in the company, valued at $36,170,603.35. This trade represents a 10.14% 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, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the transaction, the insider owned 530,803 shares of the company’s stock, valued at $67,454,445.24. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 831,014 shares of company stock worth $105,416,046 in the last quarter.

Circle Internet Group Company Profile

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.