Harvest Portfolios Group Inc. Boosts Stake in Circle Internet Group, Inc. $CRCL

Harvest Portfolios Group Inc. lifted its stake in Circle Internet Group, Inc. (NYSE:CRCL) by 6,255.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,683 shares of the company’s stock after purchasing an additional 527,254 shares during the period. Harvest Portfolios Group Inc.’s holdings in Circle Internet Group were worth $42,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CloudAlpha Capital Management Limited Hong Kong increased its stake in shares of Circle Internet Group by 181.1% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock worth $37,648,000 after purchasing an additional 182,954 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Circle Internet Group in the 3rd quarter worth $3,248,000. Vanguard Group Inc. increased its stake in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Circle Internet Group by 98.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after buying an additional 1,276,310 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in Circle Internet Group by 1,069.9% in the 3rd quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock worth $8,798,000 after buying an additional 60,685 shares in the last quarter.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 47,908 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the completion of the transaction, the chief financial officer owned 261,059 shares of the company’s stock, valued at $23,495,310. This represents a 15.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 23,254 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 618,664 shares of company stock worth $60,410,221. Insiders own 10.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut their price target on 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Robert W. Baird increased their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Compass Point reiterated a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $137.12.

Circle Internet Group Stock Down 0.0%

CRCL opened at $111.36 on Wednesday. The firm has a 50-day simple moving average of $107.18 and a two-hundred day simple moving average of $89.47. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The company has a market capitalization of $27.48 billion and a PE ratio of -34.80.

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 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. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Circle Internet Group, Inc. will post 0.86 earnings per share for the current year.

Circle Internet Group 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.