Lavelle Capital LP Makes New $1.91 Million Investment in Circle Internet Group, Inc. $CRCL

Lavelle Capital LP acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 20,000 shares of the company’s stock, valued at approximately $1,908,000. Circle Internet Group makes up about 1.2% of Lavelle Capital LP’s holdings, making the stock its 17th biggest position.

Other hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC bought a new position in shares of Circle Internet Group during the fourth quarter worth $25,000. Larson Financial Group LLC boosted its holdings in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the second quarter valued at about $27,000. Bellevue Asset Management LLC bought a new stake in shares of Circle Internet Group in the fourth quarter worth about $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 worth $30,000 after buying an additional 238 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRCL. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a research report on Friday, July 17th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Thursday, June 11th. Wells Fargo & Company lifted their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $109.81.

Insiders Place Their Bets

In other news, CEO Jeremy Allaire sold 3,032 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $67.16, for a total value of $203,629.12. Following the sale, the chief executive officer directly owned 63,346 shares in the company, valued at approximately $4,254,317.36. This represents a 4.57% decrease in their ownership of the stock. The sale 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, Director Patrick Sean Neville sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $62.65, for a total value of $3,132,500.00. Following the sale, the director directly owned 2,018 shares of the company’s stock, valued at $126,427.70. This represents a 96.12% 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. Insiders have sold 1,914,327 shares of company stock valued at $151,802,213 over the last quarter. Corporate insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Down 2.6%

CRCL stock opened at $62.55 on Friday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $189.92. The stock has a market capitalization of $15.55 billion and a price-to-earnings ratio of -19.55. The firm’s fifty day simple moving average is $76.03 and its two-hundred day simple moving average is $86.60.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 0.79 EPS for the current 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.