CFM Wealth Partners LLC Boosts Stake in Circle Internet Group, Inc. $CRCL

CFM Wealth Partners LLC increased its position in Circle Internet Group, Inc. (NYSE:CRCL) by 82.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,498 shares of the company’s stock after buying an additional 6,083 shares during the period. CFM Wealth Partners LLC’s holdings in Circle Internet Group were worth $1,070,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. General Catalyst Group Management LLC purchased a new stake in shares of Circle Internet Group in the second quarter worth about $3,647,694,000. Vanguard Group Inc. lifted its position in shares of Circle Internet Group by 61.6% in the third 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. ARK Investment Management LLC lifted its position in shares of Circle Internet Group by 1.5% in the third quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company’s stock worth $393,357,000 after buying an additional 42,537 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after acquiring an additional 1,276,310 shares during the last quarter. Finally, Amova Asset Management Americas Inc. increased its stake in Circle Internet Group by 222.1% during the third quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after acquiring an additional 892,359 shares during the last quarter.

Analysts Set New Price Targets

CRCL has been the topic of several analyst reports. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a research note on Tuesday, January 6th. Robert W. Baird boosted their price objective 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, Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have given 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 an average target price of $127.24.

Insider Activity

In other news, CFO Jeremy Fox-Geen sold 47,908 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the transaction, the chief financial officer owned 261,059 shares of the company’s stock, valued at approximately $23,495,310. This represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick Sean Neville sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 545,874 shares of company stock valued at $52,991,625. 10.85% of the stock is currently owned by corporate insiders.

Circle Internet Group Stock Performance

CRCL opened at $106.29 on Tuesday. The stock has a market cap of $26.23 billion and a price-to-earnings ratio of -57.15. The stock’s 50 day moving average price is $94.13 and its 200-day moving average price is $93.17. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The company’s revenue was up 76.9% on a year-over-year basis. As a group, analysts predict that Circle Internet Group, Inc. will post 0.84 earnings per share for the current fiscal year.

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.