JPMorgan Chase & Co. Acquires 138,385 Shares of Cricut, Inc. (NASDAQ:CRCT)

JPMorgan Chase & Co. grew its holdings in Cricut, Inc. (NASDAQ:CRCT) by 296.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,098 shares of the company’s stock after purchasing an additional 138,385 shares during the period. JPMorgan Chase & Co. owned about 0.09% of Cricut worth $1,283,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Burns Matteson Capital Management LLC acquired a new position in Cricut in the 3rd quarter valued at about $70,000. CWM LLC grew its position in shares of Cricut by 23.9% in the third quarter. CWM LLC now owns 12,026 shares of the company’s stock valued at $83,000 after purchasing an additional 2,322 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Cricut during the third quarter worth approximately $93,000. SG Americas Securities LLC acquired a new stake in Cricut during the 3rd quarter worth approximately $118,000. Finally, FMR LLC boosted its stake in Cricut by 779.4% in the 3rd quarter. FMR LLC now owns 19,840 shares of the company’s stock valued at $137,000 after purchasing an additional 17,584 shares during the period. Institutional investors own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.86, for a total value of $124,525.00. Following the completion of the transaction, the chief executive officer now owns 3,694,127 shares of the company’s stock, valued at $21,647,584.22. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on 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 owns 625,833 shares of the company’s stock, valued at approximately $3,273,106.59. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,549 shares of company stock valued at $1,691,917. 18.02% of the stock is currently owned by insiders.

Cricut Trading Down 2.5 %

Shares of Cricut stock opened at $5.79 on Friday. The company has a market cap of $1.24 billion, a PE ratio of 20.68 and a beta of -0.01. The company has a 50 day moving average of $5.69 and a 200-day moving average of $5.98. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $8.40.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $167.89 million during the quarter, compared to the consensus estimate 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 business posted $0.08 EPS. Research analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The business also recently announced a None dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were given a $0.50 dividend. The ex-dividend date was Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s dividend payout ratio 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.