Cricut, Inc. (NASDAQ:CRCT) Director Sells $12,544.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) Director Len Blackwell sold 1,960 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.40, for a total value of $12,544.00. Following the transaction, the director now directly owns 1,506,087 shares of the company’s stock, valued at approximately $9,638,956.80. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cricut Trading Down 2.0 %

Shares of Cricut stock opened at $5.93 on Friday. Cricut, Inc. has a twelve month low of $4.43 and a twelve month high of $8.40. The firm has a market capitalization of $1.27 billion, a PE ratio of 21.18 and a beta of 0.03. The firm’s 50-day moving average price is $5.94 and its 200 day moving average price is $6.06.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. During the same quarter last year, the business earned $0.08 EPS. On average, sell-side analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Dividend Announcement

The firm also recently announced a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut’s payout ratio is 71.43%.

Institutional Investors Weigh In On Cricut

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in Cricut by 366.6% during the third quarter. Barclays PLC now owns 76,440 shares of the company’s stock worth $529,000 after acquiring an additional 60,058 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cricut by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after purchasing an additional 9,940 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Cricut during the 3rd quarter worth approximately $168,000. Tenzing Global Management LLC grew its position in shares of Cricut by 4.9% in the third quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after purchasing an additional 100,000 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock valued at $7,062,000 after purchasing an additional 31,584 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.