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

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 17,267 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.12, for a total value of $71,140.04. Following the completion of the sale, the insider owned 325,579 shares of the company’s stock, valued at approximately $1,341,385.48. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cricut Trading Up 5.8%

NASDAQ CRCT traded up $0.24 on Monday, hitting $4.39. 660,080 shares of the company’s stock were exchanged, compared to its average volume of 552,630. The stock has a 50-day moving average of $4.17 and a 200-day moving average of $4.48. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $7.33. The stock has a market cap of $921.46 million, a price-to-earnings ratio of 12.54 and a beta of 0.22.

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 firm had revenue of $159.47 million during the quarter, compared to analysts’ expectations of $164.33 million. As a group, analysts predict that Cricut, Inc. will post 0.14 earnings per share for the current year.

Cricut Dividend Announcement

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

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently bought and sold shares of CRCT. Millennium Management LLC increased its holdings in Cricut by 374.5% in the fourth quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock valued at $4,863,000 after purchasing an additional 775,330 shares during the period. Algert Global LLC increased its holdings in Cricut by 354.9% in the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock valued at $3,873,000 after purchasing an additional 480,364 shares during the period. Arrowstreet Capital Limited Partnership increased 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 valued at $8,675,000 after purchasing an additional 467,934 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in 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 during the period. Finally, Tudor Investment Corp ET AL increased its holdings in Cricut by 824.0% in the third quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock valued at $2,253,000 after purchasing an additional 319,447 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.