Geode Capital Management LLC Boosts Holdings in Cricut, Inc. (NASDAQ:CRCT)

Geode Capital Management LLC grew its stake in shares of Cricut, Inc. (NASDAQ:CRCT) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,081,319 shares of the company’s stock after purchasing an additional 9,940 shares during the period. Geode Capital Management LLC owned approximately 0.50% of Cricut worth $7,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CRCT. American Century Companies Inc. boosted its position in Cricut by 42.7% during the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after acquiring an additional 135,539 shares in the last quarter. Algert Global LLC bought a new position in shares of Cricut in the 2nd quarter worth approximately $558,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cricut by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock valued at $607,000 after purchasing an additional 5,613 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cricut by 4.9% during the second quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock valued at $2,313,000 after purchasing an additional 17,958 shares in the last quarter. Finally, State Street Corp grew its stake in Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock worth $7,062,000 after purchasing an additional 31,584 shares during the period. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Cricut Stock Down 0.7 %

Shares of CRCT opened at $5.66 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of 20.21 and a beta of 0.03. The business’s 50 day moving average price is $5.79 and its 200-day moving average price is $6.00. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40.

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

Cricut Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Cricut

In other news, EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the transaction, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.87, for a total value of $352,200.00. Following the completion of the sale, the chief executive officer now owns 3,897,038 shares of the company’s stock, valued at $22,875,613.06. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,549 shares of company stock worth $1,199,555. 18.02% of the stock is owned by corporate insiders.

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.