IDG Accel China Capital II Associates L.P. Buys Shares of 6,996,111 Circle Internet Group, Inc. $CRCL

IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,996,111 shares of the company’s stock, valued at approximately $554,792,000. Circle Internet Group comprises approximately 100.0% of IDG Accel China Capital II Associates L.P.’s holdings, making the stock its biggest holding.

A number of other large investors also recently bought and sold shares of the stock. IDG China Capital Fund GP III Associates Ltd. acquired a new position in Circle Internet Group in the fourth quarter valued at about $103,701,000. Macquarie Group Ltd. lifted its position in Circle Internet Group by 48.1% in the fourth quarter. Macquarie Group Ltd. now owns 8,460 shares of the company’s stock valued at $671,000 after buying an additional 2,749 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Circle Internet Group by 5.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,391 shares of the company’s stock valued at $428,000 after buying an additional 278 shares during the last quarter. HRT Financial LP lifted its position in Circle Internet Group by 119.1% in the fourth quarter. HRT Financial LP now owns 321,867 shares of the company’s stock valued at $25,524,000 after buying an additional 174,967 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Circle Internet Group by 136.4% in the fourth quarter. Insigneo Advisory Services LLC now owns 6,394 shares of the company’s stock valued at $507,000 after buying an additional 3,689 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Morgan Stanley upped their target price on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Thursday. Compass Point reissued a “sell” rating and set a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Finally, HC Wainwright raised shares of Circle Internet Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.18.

Insider Transactions at Circle Internet Group

In related news, Director Patrick Sean Neville sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $81.30, for a total value of $4,065,000.00. Following the sale, the director owned 2,018 shares of the company’s stock, valued at $164,063.40. This trade represents a 96.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $85.00, for a total transaction of $108,205.00. Following the completion of the sale, the director directly owned 154,346 shares in the company, valued at approximately $13,119,410. This trade represents a 0.82% 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. Insiders have sold 1,415,984 shares of company stock valued at $120,091,637 over the last quarter. Insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Down 5.8%

Shares of NYSE:CRCL opened at $77.85 on Friday. The firm’s 50 day moving average price is $101.91 and its 200 day moving average price is $89.84. The stock has a market cap of $19.35 billion and a price-to-earnings ratio of -24.33. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99.

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

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.