Chicago Partners Investment Group LLC Reduces Position in Cricut, Inc. (NASDAQ:CRCT)

Chicago Partners Investment Group LLC cut its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,022 shares of the company’s stock after selling 12,472 shares during the period. Chicago Partners Investment Group LLC’s holdings in Cricut were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CRCT. Vanguard Group Inc. raised its stake in shares of Cricut by 4.4% in the third quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock worth $29,735,000 after buying an additional 133,624 shares during the period. Strs Ohio raised its stake in shares of Cricut by 139.1% in the fourth quarter. Strs Ohio now owns 77,000 shares of the company’s stock worth $507,000 after buying an additional 44,800 shares during the period. Swiss National Bank raised its stake in shares of Cricut by 9.2% in the fourth quarter. Swiss National Bank now owns 67,900 shares of the company’s stock worth $447,000 after buying an additional 5,700 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Cricut in the fourth quarter worth about $411,000. Finally, Olympiad Research LP bought a new position in shares of Cricut in the fourth quarter worth about $237,000. Institutional investors own 19.60% of the company’s stock.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 24,134 shares of Cricut stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $6.97, for a total value of $168,213.98. Following the completion of the transaction, the chief executive officer now owns 1,585,334 shares in the company, valued at approximately $11,049,777.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Donald B. Olsen sold 11,045 shares of Cricut stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $7.48, for a total value of $82,616.60. Following the completion of the transaction, the executive vice president now owns 562,873 shares in the company, valued at approximately $4,210,290.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 24,134 shares of Cricut stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $6.97, for a total value of $168,213.98. Following the completion of the transaction, the chief executive officer now owns 1,585,334 shares of the company’s stock, valued at approximately $11,049,777.98. The disclosure for this sale can be found here. Insiders sold 298,847 shares of company stock worth $2,130,703 in the last quarter. 18.02% of the stock is owned by corporate insiders.

Cricut Price Performance

NASDAQ CRCT opened at $6.70 on Tuesday. The stock has a market capitalization of $1.45 billion, a PE ratio of 23.10 and a beta of 0.11. The business has a 50 day simple moving average of $6.09 and a two-hundred day simple moving average of $5.84. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $17.89.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $167.39 million during the quarter, compared to analysts’ expectations of $174.20 million. Cricut had a return on equity of 12.25% and a net margin of 8.54%. On average, analysts anticipate that Cricut, Inc. will post 0.24 EPS for the current fiscal year.

Cricut Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.50 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRCT. Citigroup decreased their price objective on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. The Goldman Sachs Group decreased their target price on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Barclays decreased their target price on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, March 7th.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.