State Street Corp Buys 31,584 Shares of Cricut, Inc. (NASDAQ:CRCT)

State Street Corp grew its stake in Cricut, Inc. (NASDAQ:CRCT) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,019,025 shares of the company’s stock after purchasing an additional 31,584 shares during the quarter. State Street Corp owned approximately 0.47% of Cricut worth $7,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Cricut by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,099 shares of the company’s stock valued at $1,288,000 after buying an additional 18,939 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cricut by 9.8% during the second quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after acquiring an additional 3,034 shares during the period. Rhumbline Advisers grew its position in shares of Cricut by 5.8% in the second quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock valued at $372,000 after purchasing an additional 3,397 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Cricut by 20.8% during the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after purchasing an additional 2,103 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Cricut during the 2nd quarter worth approximately $290,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Insider Transactions at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $5.94, for a total transaction of $126,225.00. Following the completion of the sale, the chief executive officer now owns 3,780,840 shares of the company’s stock, valued at $22,458,189.60. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald B. Olsen sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the transaction, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,549 shares of company stock valued at $1,199,555. 18.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their price target on Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Cricut Stock Down 1.0 %

Shares of Cricut stock opened at $5.75 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 20.54 and a beta of 0.03. Cricut, Inc. has a twelve month low of $4.43 and a twelve month high of $8.40. The company has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $6.03.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Dividend Announcement

The business also recently announced a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio (DPR) is currently 71.43%.

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.