Cricut (NASDAQ:CRCT) Insider Ryan Harmer Sells 10,000 Shares

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 10,000 shares of Cricut stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.70, for a total transaction of $57,000.00. Following the transaction, the insider directly owned 314,428 shares of the company’s stock, valued at $1,792,239.60. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ryan Harmer also recently made the following trade(s):

• On Thursday, May 28th, Ryan Harmer sold 17,267 shares of Cricut stock. The stock was sold at an average price of $4.12, for a total transaction of $71,140.04.

Cricut Stock Down 1.0%

CRCT traded down $0.06 during trading on Wednesday, hitting $5.81. The company’s stock had a trading volume of 698,997 shares, compared to its average volume of 976,978. The firm’s 50 day moving average price is $4.91 and its two-hundred day moving average price is $4.49. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.51 and a beta of 0.19. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The firm had revenue of $156.28 million for the quarter, compared to analyst estimates of $159.95 million. On average, sell-side analysts forecast that Cricut, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cricut

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. California State Teachers Retirement System increased its holdings in shares of Cricut by 324.8% during the second quarter. California State Teachers Retirement System now owns 199,613 shares of the company’s stock worth $876,000 after buying an additional 152,628 shares in the last quarter. AXQ Capital LP bought a new stake in Cricut during the 2nd quarter worth $74,000. Public Employees Retirement System of Ohio acquired a new position in Cricut in the 2nd quarter worth about $355,000. Bank of New York Mellon Corp bought a new position in Cricut in the second quarter valued at about $2,409,000. Finally, Bank of America Corp DE grew its holdings in shares of Cricut by 124.4% during the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock worth $437,000 after purchasing an additional 64,737 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Cricut in a report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price target on the stock. Weiss Ratings raised shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Morgan Stanley restated an “underweight” rating and set a $3.70 price objective on shares of Cricut in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Cricut from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cricut currently has an average rating of “Reduce” and a consensus price target of $4.07.

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.