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

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 17,267 shares of Cricut stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.12, for a total value of $71,140.04. Following the transaction, the insider 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 filing with the SEC, which is available at the SEC website.

Cricut Trading Up 5.8%

Shares of Cricut stock traded up $0.24 during trading on Monday, reaching $4.39. The stock had a trading volume of 660,080 shares, compared to its average volume of 552,630. The company has a market capitalization of $921.46 million, a price-to-earnings ratio of 12.54 and a beta of 0.22. The stock has a fifty day moving average price of $4.17 and a two-hundred day moving average price of $4.48. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $7.33.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $159.47 million for the quarter, compared to analyst estimates of $164.33 million. Cricut had a return on equity of 21.37% and a net margin of 10.36%. On average, equities analysts forecast that Cricut, Inc. will post 0.14 EPS for the current fiscal year.

Cricut Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on CRCT. UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group reissued a “sell” rating and set a $3.75 price target 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 research report on Monday, May 11th. Finally, Barclays reissued an “underweight” rating and set a $4.00 price target on shares of Cricut in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $3.88.

Hedge Funds Weigh In On Cricut

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Cricut by 1.3% in the second quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after purchasing an additional 1,977 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Cricut by 8.2% in the third quarter. Royce & Associates LP now owns 28,583 shares of the company’s stock valued at $180,000 after buying an additional 2,176 shares during the period. Deutsche Bank AG boosted its stake in shares of Cricut by 6.0% in the fourth quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock valued at $208,000 after buying an additional 2,374 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after buying an additional 2,620 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Cricut by 6.0% in the third quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after buying an additional 3,566 shares during the period. Institutional investors and hedge funds own 19.60% of the company’s stock.

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.