HighTower Advisors LLC Decreases Holdings in Circle Internet Group, Inc. $CRCL

HighTower Advisors LLC lessened its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 32.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,809 shares of the company’s stock after selling 11,894 shares during the quarter. HighTower Advisors LLC’s holdings in Circle Internet Group were worth $1,967,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter worth about $27,000. PNC Financial Services Group Inc. increased its stake in shares of Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after purchasing an additional 151 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of Circle Internet Group in the third quarter worth about $33,000. Finally, National Bank of Canada FI purchased a new position in shares of Circle Internet Group in the third quarter worth about $37,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRCL. JPMorgan Chase & Co. reduced their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Mizuho lifted their target price on shares of Circle Internet Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. 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. Finally, Wells Fargo & Company lifted their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and an average price target of $137.12.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock opened at $104.85 on Tuesday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The firm has a market cap of $26.06 billion and a PE ratio of -32.76. The company has a 50 day simple moving average of $105.10 and a two-hundred day simple moving average of $89.38.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company had revenue of $694.13 million for the quarter. Circle Internet Group’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, research analysts anticipate that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director M Michele Burns sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $120.15, for a total transaction 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. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $111.00, for a total transaction of $1,110,000.00. Following the sale, the insider owned 532,745 shares of the company’s stock, valued at approximately $59,134,695. The trade was a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 261,617 shares of company stock valued at $27,670,808 over the last quarter. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Company 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.