Cricut (NASDAQ:CRCT) Stock Price Down 4.5%

Cricut, Inc. (NASDAQ:CRCT)’s share price fell 4.5% on Friday . The company traded as low as $6.18 and last traded at $6.18. 171,682 shares changed hands during trading, a decline of 80% from the average session volume of 864,679 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRCT. Barclays cut their price objective on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, March 7th. Citigroup lowered their target price on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, March 6th.

Cricut Price Performance

The business’s 50 day moving average is $6.23 and its 200 day moving average is $5.83. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.48 and a beta of 0.11.

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

Cricut Announces Dividend

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

Insider Buying and Selling at Cricut

In other Cricut news, EVP Donald B. Olsen sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.05, for a total value of $176,250.00. Following the completion of the transaction, the executive vice president now owns 573,918 shares in the company, valued at $4,046,121.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Donald B. Olsen sold 25,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.05, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president now owns 573,918 shares in the company, valued at $4,046,121.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arora Ashish sold 129,186 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $7.11, for a total transaction of $918,512.46. Following the sale, the chief executive officer now owns 2,090,420 shares of the company’s stock, valued at approximately $14,862,886.20. The disclosure for this sale can be found here. Insiders sold 298,847 shares of company stock worth $2,130,703 over the last 90 days. Corporate insiders own 18.02% of the company’s stock.

Institutional Investors Weigh In On Cricut

Several hedge funds have recently made changes to their positions in CRCT. GSA Capital Partners LLP boosted its stake in shares of Cricut by 584.2% during the first quarter. GSA Capital Partners LLP now owns 423,849 shares of the company’s stock worth $2,018,000 after buying an additional 361,904 shares during the period. Vanguard Group Inc. raised its holdings in Cricut by 10.9% during the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock worth $17,416,000 after purchasing an additional 360,080 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Cricut during the first quarter worth about $758,000. Dynamic Technology Lab Private Ltd purchased a new position in Cricut during the fourth quarter worth about $411,000. Finally, Strs Ohio raised its holdings in Cricut by 139.1% during the fourth quarter. Strs Ohio now owns 77,000 shares of the company’s stock worth $507,000 after purchasing an additional 44,800 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

About Cricut

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.