Klingenstein Fields & Co. LP Invests $7.58 Million in Circle Internet Group, Inc. $CRCL

Klingenstein Fields & Co. LP bought a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, HoldingsChannel reports. The fund bought 95,641 shares of the company’s stock, valued at approximately $7,584,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the last quarter. Travelers Companies Inc. acquired a new position in shares of Circle Internet Group during the 4th quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Circle Internet Group by 98.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after purchasing an additional 1,276,310 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Circle Internet Group by 1,069.9% during the 3rd quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock worth $8,798,000 after purchasing an additional 60,685 shares during the last quarter. Finally, Amova Asset Management Americas Inc. boosted its holdings in shares of Circle Internet Group by 222.1% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after purchasing an additional 892,359 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Morgan Stanley upped their price objective on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Wells Fargo & Company upped their price objective on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Compass Point reiterated a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.18.

Circle Internet Group Stock Performance

CRCL opened at $77.85 on Friday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The stock has a market capitalization of $19.35 billion and a PE ratio of -24.33. The business’s 50 day moving average price is $101.91 and its 200 day moving average price is $89.84.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data 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 negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million during the quarter. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Hossein Razzaghi sold 34,623 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider owned 666,404 shares of the company’s stock, valued at $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 1,034,396 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.87, for a total value of $85,720,396.52. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at approximately $167,231.66. The trade was a 99.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,415,984 shares of company stock valued at $120,091,637 in the last ninety days. 10.85% of the stock is currently owned by corporate insiders.

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.