Liberty Street Advisors Inc. Trims Stock Position in Circle Internet Group, Inc. $CRCL

Liberty Street Advisors Inc. lessened its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 55.2% during the 4th quarter, Holdings Channel reports. The firm owned 130,000 shares of the company’s stock after selling 160,200 shares during the period. Circle Internet Group makes up approximately 17.2% of Liberty Street Advisors Inc.’s portfolio, making the stock its 3rd biggest position. Liberty Street Advisors Inc.’s holdings in Circle Internet Group were worth $10,309,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $27,000. PNC Financial Services Group Inc. increased its stake in shares of Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after acquiring an additional 151 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of 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. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the 3rd quarter worth approximately $27,000. Finally, Highline Wealth Partners LLC bought a new position in Circle Internet Group during the 3rd quarter worth approximately $32,000.

Circle Internet Group Stock Up 11.4%

Shares of CRCL stock opened at $98.08 on Tuesday. The company’s fifty day simple moving average is $89.09 and its 200-day simple moving average is $94.17. The firm has a market cap of $24.21 billion and a PE ratio of -52.73. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The business’s revenue for the quarter was up 76.9% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms recently weighed in on CRCL. Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a research note on Tuesday, January 6th. Clear Str raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Robert W. Baird lifted their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Needham & Company LLC reduced their price objective on shares of Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Circle Internet Group currently has an average rating of “Hold” and an average price target of $126.41.

Insiders Place Their Bets

In other news, Director M Michele Burns sold 1,666 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $92.38, for a total value of $153,905.08. Following the sale, the director owned 341,872 shares of the company’s stock, valued at $31,582,135.36. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $90.00, for a total transaction of $381,420.00. Following the completion of the sale, the chief financial officer directly owned 363,726 shares in the company, valued at approximately $32,735,340. This represents a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 530,874 shares of company stock valued at $51,566,025 over the last 90 days. 10.85% of the stock is currently owned by company 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.