Cricut (NASDAQ:CRCT) Insider Sells $71,140.04 in Stock

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 17,267 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.12, for a total transaction of $71,140.04. Following the completion of the transaction, the insider directly owned 325,579 shares in the company, valued at approximately $1,341,385.48. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cricut Stock Down 1.0%

Cricut stock opened at $4.11 on Thursday. The stock has a market cap of $862.69 million, a P/E ratio of 11.74 and a beta of 0.22. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $7.33. The company’s 50-day moving average price is $4.18 and its two-hundred day moving average price is $4.47.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $164.33 million. Cricut had a net margin of 10.36% and a return on equity of 21.37%. Equities analysts anticipate that Cricut, Inc. will post 0.14 earnings per share for the current fiscal year.

Cricut Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.10 dividend. This represents a yield of 474.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Cricut’s dividend payout ratio is currently 57.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Cricut by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company’s stock worth $29,751,000 after purchasing an additional 163,602 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cricut by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 1,417,153 shares of the company’s stock worth $7,016,000 after purchasing an additional 31,736 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Cricut by 51.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after purchasing an additional 467,934 shares in the last quarter. State Street Corp grew its position in shares of Cricut by 0.9% during the 4th quarter. State Street Corp now owns 1,220,292 shares of the company’s stock worth $6,040,000 after purchasing an additional 11,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Cricut by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock worth $3,687,000 after purchasing an additional 229,663 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRCT shares. The Goldman Sachs Group reissued a “sell” rating and issued a $3.75 price target on shares of Cricut in a report on Wednesday, May 6th. Barclays reissued an “underweight” rating and issued a $4.00 price target on shares of Cricut in a report on Wednesday, March 4th. Weiss Ratings cut shares of Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, UBS Group reissued a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $3.88.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.