Shares of Circle Internet Group surged +4.4% to $119.18 at midday May 6 as SEC filings revealed a wave of institutional buying — the latest sign that professional money managers are placing real bets on the stablecoin giant even as its own executives quietly cash out.
• A Flood of New Institutional Buyers, but the Dollar Amounts Tell a Mixed Story
Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Circle Internet Group during the third quarter worth $27,000. That initial stake has since ballooned — per the headline event — to 50,000 shares, a 25,000% increase. Vanguard and Matthew 25 Management also expanded holdings. Sumitomo Mitsui Trust Group boosted its position by 98.2% in Q4, acquiring an additional 1,276,310 shares worth approximately $204 million. Large-scale accumulation like this suggests institutions view the post-IPO selloff — shares are still 60% below their $298.99 all-time high — as a buying opportunity.
• A Regulatory Breakthrough Lit the Fuse Last Weekend
Shares of Circle surged after lawmakers over the weekend struck a compromise on the market structure bill known as the CLARITY Act, preserving stablecoin reward programs under certain conditions. The stock ran nearly 20% on May 4 alone. The revised language is a relative win for Circle and Coinbase.
Senate Banking Committee Chairman Tim Scott confirmed the markup is happening in May. For shareholders, this means the biggest legal cloud over Circle's business model — whether its dollar-pegged digital currency can legally offer user incentives — is clearing.
• Insiders Are Selling Into the Strength, and That Deserves Scrutiny
Several executives and directors sold shares in pre-arranged plans — CFO Jeremy Fox-Geen (4,238 shares at $107.10 on 5/4 and 7,200 at ~$92.64 on 5/1), CAO Tamara L. Schulz (1,194 shares at $107.10 on 5/4), Director Patrick S. Neville (5,000 and 30,000 shares at ~$92.64–$92.65 on 5/1).
Insiders have sold a total of 555,874 shares valued at $54 million over the last three months. These were pre-scheduled, tax-related sales — but $54 million in insider liquidations sits awkwardly alongside institutional accumulation.
• The Valuation Math Heading Into Earnings Monday
Circle will report its Q1 2026 results on Monday, May 11, 2026.
The consensus rating is "Hold" with an average price target of $129.06 — only ~8% upside from here. Last quarter Circle reported $0.43 EPS (beating estimates by $0.18) on $770 million in revenue, up 76.9% year-over-year.
Wells Fargo recently raised its target to $142 with an "overweight" rating , but the stock still carries a negative P/E ratio of -61.33 , meaning Circle isn't consistently profitable yet. Monday's report will test whether institutional conviction is justified — or premature.