Alberta Investment Management Corp Takes Position in Circle Internet Group, Inc. $CRCL

Alberta Investment Management Corp bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, HoldingsChannel.com reports. The firm bought 315,600 shares of the company’s stock, valued at approximately $25,027,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC lifted its position 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 acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter valued at approximately $27,000. Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter valued at approximately $29,000. Finally, Harbour Investments Inc. lifted its position in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after acquiring an additional 238 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction 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 completion of the sale, the insider directly owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of Circle Internet Group stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the completion of the sale, the president directly owned 502,558 shares of the company’s stock, valued at $40,943,400.26. The trade was a 7.24% 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 three months, insiders sold 1,415,984 shares of company stock valued at $120,091,637. Insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Up 6.9%

CRCL stock opened at $83.23 on Tuesday. The business has a fifty day moving average of $101.77 and a two-hundred day moving average of $90.06. The stock has a market cap of $20.69 billion and a price-to-earnings ratio of -26.01. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share 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 firm had revenue of $694.13 million during the quarter. The firm’s revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRCL. Compass Point restated a “sell” rating and issued a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. KeyCorp initiated coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating on the stock. Finally, 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 report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $134.18.

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.