According to Zacks, “Cricut Inc. provides technology platform. The company’s products include-Cricut Maker(R), the Cricut Explore(R) family, and Cricut Joy(R)- accompanied by other unique tools like Cricut EasyPress(R), the Infusible Ink(TM) system and a diverse collection of materials. Cricut Inc. is based in SOUTH JORDAN, Utah. “
Several other research analysts have also commented on CRCT. Morgan Stanley dropped their price target on Cricut from $29.00 to $20.00 and set an underweight rating for the company in a research report on Thursday, November 11th. Citigroup dropped their price target on Cricut from $32.00 to $26.00 and set a neutral rating for the company in a research report on Wednesday, December 22nd. Finally, Barclays lowered Cricut from an equal weight rating to an underweight rating and set a $28.00 price target for the company. in a research report on Friday, October 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cricut has a consensus rating of Hold and an average price target of $27.71.
Cricut (NASDAQ:CRCT) last issued its earnings results on Wednesday, November 10th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Cricut had a return on equity of 37.36% and a net margin of 14.74%. The firm had revenue of $260.09 million during the quarter. As a group, analysts predict that Cricut will post 0.77 earnings per share for the current fiscal year.
In related news, major shareholder Abdiel Capital Management, Llc purchased 25,000 shares of the firm’s stock in a transaction dated Monday, January 3rd. The stock was purchased at an average price of $21.85 per share, with a total value of $546,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald B. Olsen sold 10,000 shares of Cricut stock in a transaction that occurred on Friday, November 26th. The shares were sold at an average price of $23.24, for a total transaction of $232,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,247,091 shares of company stock valued at $30,133,084 and have sold 131,449 shares valued at $3,336,876.
Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its stake in Cricut by 78.5% in the second quarter. Advisor Group Holdings Inc. now owns 1,421 shares of the company’s stock worth $59,000 after buying an additional 625 shares in the last quarter. Ibex Wealth Advisors bought a new position in Cricut in the third quarter worth approximately $41,000. Royal Bank of Canada raised its stake in Cricut by 668.1% in the third quarter. Royal Bank of Canada now owns 1,905 shares of the company’s stock worth $53,000 after buying an additional 1,657 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Cricut by 3,566.7% in the third quarter. Rockefeller Capital Management L.P. now owns 2,200 shares of the company’s stock worth $60,000 after buying an additional 2,140 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Cricut in the second quarter worth approximately $208,000. 14.39% of the stock is owned by institutional investors.
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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