Endowment Wealth Management Inc. Sells 37,952 Shares of Circle Internet Group, Inc. $CRCL

Endowment Wealth Management Inc. lessened its stake in Circle Internet Group, Inc. (NYSE:CRCL) by 37.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 62,062 shares of the company’s stock after selling 37,952 shares during the period. Circle Internet Group comprises about 2.3% of Endowment Wealth Management Inc.’s investment portfolio, making the stock its 11th largest position. Endowment Wealth Management Inc.’s holdings in Circle Internet Group were worth $4,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CRCL. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $3,647,694,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group in the 4th quarter valued at about $513,844,000. Vanguard Group Inc. lifted its stake in shares of Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Circle Internet Group by 98.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock valued at $204,252,000 after purchasing an additional 1,276,310 shares during the period. Finally, Amova Asset Management Americas Inc. lifted its stake in shares of Circle Internet Group by 222.1% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock valued at $171,453,000 after purchasing an additional 892,359 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRCL. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a research note on Tuesday, May 12th. Mizuho boosted their price objective on Circle Internet Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. Morgan Stanley boosted their price objective on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. 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 equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $137.12.

Circle Internet Group Stock Performance

CRCL stock opened at $113.07 on Tuesday. The company has a market cap of $27.91 billion and a P/E ratio of -35.33. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The stock’s 50 day simple moving average is $107.11 and its 200 day simple moving average is $89.28.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.Circle Internet Group’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities analysts predict that Circle Internet Group, Inc. will post 1.04 earnings per share for the current year.

Insider Transactions at Circle Internet Group

In other news, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $111.00, for a total value of $1,110,000.00. Following the completion of the transaction, the insider directly owned 532,745 shares of the company’s stock, valued at $59,134,695. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $120.15, for a total value of $1,201,500.00. Following the completion of the transaction, the director directly owned 330,206 shares of the company’s stock, valued at approximately $39,674,250.90. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 628,664 shares of company stock valued at $61,520,221. Corporate insiders own 10.85% of the company’s stock.

Circle Internet Group 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.