Cricut (NASDAQ:CRCT) Insider Sells $57,000.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $5.70, for a total value of $57,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $71,140.04.

Cricut Trading Up 2.1%

NASDAQ CRCT opened at $5.80 on Friday. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $6.93. The company has a fifty day simple moving average of $4.96 and a 200 day simple moving average of $4.50. The company has a market cap of $1.21 billion, a P/E ratio of 13.49 and a beta of 0.19.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $156.28 million for the quarter, compared to the consensus estimate of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. Equities research analysts forecast that Cricut, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Cricut

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. Millennium Management LLC raised its holdings in Cricut by 374.5% in the 4th quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock valued at $4,863,000 after acquiring an additional 775,330 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cricut during the 2nd quarter worth approximately $2,409,000. Algert Global LLC grew its holdings in shares of Cricut by 354.9% during the 3rd quarter. Algert Global LLC now owns 615,697 shares of the company’s stock worth $3,873,000 after purchasing an additional 480,364 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock valued at $8,675,000 after purchasing an additional 467,934 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Cricut by 76.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock valued at $5,700,000 after purchasing an additional 392,951 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.

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.