Cricut (NASDAQ:CRCT) Trading 3.2% Higher

Shares of Cricut, Inc. (NASDAQ:CRCT) traded up 3.2% during mid-day trading on Tuesday . The stock traded as high as $5.21 and last traded at $5.21. 93,281 shares changed hands during trading, a decline of 89% from the average session volume of 864,273 shares. The stock had previously closed at $5.05.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup reduced their price objective 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. Barclays reduced their price objective on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group reduced their price objective 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 Trading Up 4.3 %

The company’s fifty day simple moving average is $6.33 and its 200 day simple moving average is $5.75. The stock has a market capitalization of $1.22 billion, a P/E ratio of 19.45 and a beta of 0.10.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.09 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 firm had revenue of $167.39 million during the quarter, compared to the consensus estimate of $174.20 million. Equities research analysts predict that Cricut, Inc. will post 0.24 earnings per share for the current year.

Cricut Dividend Announcement

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

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 129,186 shares of Cricut stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.11, for a total transaction of $918,512.46. Following the completion of the sale, the chief executive officer now directly owns 2,090,420 shares of the company’s stock, valued at approximately $14,862,886.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cricut news, EVP Donald B. Olsen sold 11,045 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $7.48, for a total value of $82,616.60. Following the transaction, the executive vice president now owns 562,873 shares in the company, valued at $4,210,290.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arora Ashish sold 129,186 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.11, for a total transaction of $918,512.46. Following the completion of the transaction, the chief executive officer now owns 2,090,420 shares in the company, valued at approximately $14,862,886.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,847 shares of company stock valued at $2,130,703. Insiders own 18.02% of the company’s stock.

Hedge Funds Weigh In On Cricut

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Cricut by 40.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,008 shares of the company’s stock valued at $134,000 after acquiring an additional 8,077 shares during the period. Lazard Asset Management LLC increased its position in shares of Cricut by 9,096.7% during the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after buying an additional 13,645 shares during the period. Vanguard Group Inc. increased its position in shares of Cricut by 10.9% during the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after buying an additional 360,080 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of Cricut during the first quarter valued at about $78,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cricut during the first quarter valued at about $758,000. Hedge funds and other institutional investors 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.