Net Worth Advisory Group Sells 20,816 Shares of Cricut, Inc. (NASDAQ:CRCT)

Net Worth Advisory Group reduced its holdings in Cricut, Inc. (NASDAQ:CRCT) by 50.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,416 shares of the company’s stock after selling 20,816 shares during the period. Net Worth Advisory Group’s holdings in Cricut were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CRCT. Simplicity Wealth LLC bought a new position in Cricut during the first quarter valued at $134,000. Public Employees Retirement System of Ohio purchased a new stake in Cricut in the fourth quarter worth $89,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cricut by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,035 shares of the company’s stock valued at $639,000 after purchasing an additional 24,507 shares during the period. State of Wyoming grew its stake in Cricut by 138.1% in the 4th quarter. State of Wyoming now owns 87,097 shares of the company’s stock worth $496,000 after acquiring an additional 50,514 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Cricut during the 4th quarter worth $75,000. 19.60% of the stock is owned by institutional investors.

Cricut Trading Down 4.3%

NASDAQ CRCT opened at $6.27 on Friday. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.02. The stock has a 50-day moving average of $5.56 and a 200 day moving average of $5.58. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.39 and a beta of 0.12.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Equities analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 3.3%. Cricut’s payout ratio is presently 64.52%.

Insider Activity at Cricut

In other news, CEO Arora Ashish sold 5,283 shares of Cricut stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $5.25, for a total transaction of $27,735.75. Following the transaction, the chief executive officer now owns 4,059,329 shares in the company, valued at $21,311,477.25. The trade was a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 365,993 shares of company stock valued at $2,256,263. Corporate insiders own 18.61% of the company’s stock.

Analysts Set New Price Targets

CRCT has been the subject of several research reports. Citigroup reaffirmed a “sell” rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley cut their price target on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research note on Thursday, March 6th.

Cricut Company Profile

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.