IDG China Capital Fund GP III Associates Ltd. Invests $103.70 Million in Circle Internet Group, Inc. $CRCL

IDG China Capital Fund GP III Associates Ltd. acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,307,711 shares of the company’s stock, valued at approximately $103,701,000. Circle Internet Group comprises 99.5% of IDG China Capital Fund GP III Associates Ltd.’s investment portfolio, making the stock its biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC acquired a new position in Circle Internet Group during the 4th quarter valued at about $25,000. 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 valued at $26,000 after purchasing an additional 190 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $27,000. Bellevue Asset Management LLC bought a new stake in shares of Circle Internet Group during the fourth quarter valued at approximately $29,000. Finally, Harbour Investments Inc. boosted its position in shares of Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after buying an additional 238 shares during the period.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $83.75, for a total value of $2,233,277.50. Following the transaction, the insider owned 521,809 shares of the company’s stock, valued at approximately $43,701,503.75. This represents a 4.86% decrease in their ownership of the stock. 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, CEO Jeremy Allaire sold 56,200 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $82.93, for a total value of $4,660,666.00. Following the sale, the chief executive officer owned 510,579 shares of the company’s stock, valued at $42,342,316.47. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,415,984 shares of company stock valued at $120,091,637 in the last 90 days. 10.85% of the stock is owned by corporate insiders.

Circle Internet Group Trading Down 5.8%

NYSE:CRCL opened at $77.85 on Friday. The company has a 50-day moving average of $101.91 and a 200-day moving average of $89.84. The firm has a market cap of $19.35 billion and a price-to-earnings ratio of -24.33. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Freedom Capital raised Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Compass Point restated a “sell” rating and set a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Finally, Zacks Research raised shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $134.18.

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.