Public Employees Retirement System of Ohio Acquires 41,764 Shares of Circle Internet Group, Inc. $CRCL

Public Employees Retirement System of Ohio increased its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 294.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,969 shares of the company’s stock after purchasing an additional 41,764 shares during the period. Public Employees Retirement System of Ohio’s holdings in Circle Internet Group were worth $5,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter worth $27,000. Larson Financial Group LLC increased its holdings in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. National Bank of Canada FI purchased a new stake in Circle Internet Group in the 3rd quarter worth $37,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Circle Internet Group during the 3rd quarter valued at about $39,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Circle Internet Group during the 4th quarter valued at about $25,000.

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $61.26 on Thursday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $193.33. The firm has a 50-day simple moving average of $78.05 and a two-hundred day simple moving average of $86.90. The company has a market cap of $15.23 billion and a P/E ratio of -19.14.

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 negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million for the quarter. The company’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRCL shares. The Goldman Sachs Group reduced their target price on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $140.00 target price on shares of Circle Internet Group in a research report on Wednesday. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. Finally, Raymond James Financial assumed coverage on shares of Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $110.12.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CAO Tamara L. Schulz sold 1,194 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total value of $76,893.60. Following the transaction, the chief accounting officer directly owned 85,871 shares in the company, valued at $5,530,092.40. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, Director Patrick Sean Neville sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $62.65, for a total transaction of $3,132,500.00. Following the transaction, the director directly owned 2,018 shares in the company, valued at approximately $126,427.70. This trade represents a 96.12% 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. In the last 90 days, insiders sold 1,956,527 shares of company stock valued at $155,711,921. 10.85% of the stock is owned by company insiders.

About Circle Internet Group

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.