Cricut (NASDAQ:CRCT) Insider Ryan Harmer Sells 17,267 Shares

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 17,267 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.12, for a total transaction of $71,140.04. Following the transaction, the insider owned 325,579 shares of the company’s stock, valued at $1,341,385.48. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cricut Stock Up 5.8%

NASDAQ CRCT opened at $4.39 on Tuesday. The company has a fifty day moving average of $4.18 and a two-hundred day moving average of $4.48. The firm has a market capitalization of $921.46 million, a price-to-earnings ratio of 12.54 and a beta of 0.22. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $7.33.

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

Cricut Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share. This represents a dividend yield of 474.0%. The ex-dividend date is Tuesday, July 7th. Cricut’s dividend payout ratio (DPR) is 57.14%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cricut

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cricut by 3.6% in the third 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 raised its holdings in Cricut by 2.3% in the fourth 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 raised its holdings in Cricut by 51.4% in the third 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 raised its holdings in Cricut by 0.9% in the fourth 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 raised its holdings in Cricut by 30.4% in the first 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. 19.60% of the stock is currently owned by institutional investors.

About Cricut

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.