Bastion Asset Management Inc. Invests $2.73 Million in Circle Internet Group, Inc. $CRCL

Bastion Asset Management Inc. purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 29,073 shares of the company’s stock, valued at approximately $2,733,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the 2nd quarter worth about $27,000. Larson Financial Group LLC lifted its position 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 worth $26,000 after purchasing an additional 190 shares during the period. National Bank of Canada FI bought a new position in shares of Circle Internet Group during the third quarter valued at approximately $37,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Circle Internet Group during the third quarter valued at approximately $39,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in Circle Internet Group during the fourth quarter valued at approximately $25,000.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $63.90, for a total value of $1,703,957.40. Following the completion of the sale, the insider directly owned 725,068 shares in the company, valued at approximately $46,331,845.20. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CEO Jeremy Allaire sold 3,032 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $67.16, for a total value of $203,629.12. Following the completion of the sale, the chief executive officer owned 63,346 shares of the company’s stock, valued at approximately $4,254,317.36. This trade represents a 4.57% 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. Over the last three months, insiders have sold 1,966,527 shares of company stock worth $156,751,921. 10.85% of the stock is currently owned by corporate insiders.

Circle Internet Group Stock Down 7.6%

NYSE:CRCL opened at $60.72 on Friday. The stock has a market capitalization of $15.09 billion and a price-to-earnings ratio of -18.97. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $262.97. The firm has a 50 day moving average of $87.81 and a 200 day moving average of $88.00.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) 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 positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts expect that Circle Internet Group, Inc. will post 0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Mizuho reissued an “underperform” rating and issued a $50.00 price target (down from $85.00) on shares of Circle Internet Group in a research report on Tuesday. Finally, Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $113.25.

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.