New York State Common Retirement Fund reduced its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,830 shares of the company’s stock after selling 1,969 shares during the period. New York State Common Retirement Fund’s holdings in Cricut were worth $1,126,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CRCT. Advisor Group Holdings Inc. boosted its position in shares of Cricut by 78.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,421 shares of the company’s stock valued at $59,000 after acquiring an additional 625 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Cricut in the second quarter valued at about $208,000. Envestnet Asset Management Inc. acquired a new position in Cricut in the second quarter valued at about $213,000. LPL Financial LLC acquired a new position in Cricut in the second quarter valued at about $230,000. Finally, Paloma Partners Management Co acquired a new position in Cricut in the second quarter valued at about $244,000. Institutional investors and hedge funds own 14.39% of the company’s stock.
In related news, EVP Gregory Rowberry sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $25.76, for a total transaction of $2,576,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Abdiel Capital Management, Llc bought 250,000 shares of the stock in a transaction on Thursday, November 11th. The stock was purchased at an average cost of $25.16 per share, with a total value of $6,290,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,247,091 shares of company stock valued at $30,133,084 and have sold 131,449 shares valued at $3,336,876.
Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Wednesday, November 10th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $260.09 million for the quarter. Cricut had a return on equity of 37.36% and a net margin of 14.74%. On average, equities research analysts anticipate that Cricut, Inc. will post 0.77 earnings per share for the current fiscal year.
CRCT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Cricut from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reduced their price target on shares of Cricut from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 22nd. Barclays lowered shares of Cricut from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Friday, October 1st. Finally, Morgan Stanley dropped their target price on shares of Cricut from $29.00 to $20.00 and set an “underweight” rating for the company in a research note on Thursday, November 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.71.
Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Europe, and internationally. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company provides connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations under the Cricut brand.
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