Teacher Retirement System of Texas Makes New Investment in Cricut, Inc. (NASDAQ:CRCT)

Teacher Retirement System of Texas bought a new stake in shares of Cricut, Inc. (NASDAQ:CRCT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 180,479 shares of the company’s stock, valued at approximately $1,029,000. Teacher Retirement System of Texas owned approximately 0.08% of Cricut at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Cricut by 175.0% in the fourth quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company’s stock valued at $2,716,000 after buying an additional 303,236 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cricut by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock valued at $1,283,000 after acquiring an additional 138,385 shares during the period. Tenzing Global Management LLC increased its stake in shares of Cricut by 4.9% in the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after purchasing an additional 100,000 shares in the last quarter. Martingale Asset Management L P raised its holdings in Cricut by 258.6% in the 3rd quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock worth $872,000 after purchasing an additional 90,757 shares during the period. Finally, Barclays PLC boosted its position in Cricut by 366.6% during the third quarter. Barclays PLC now owns 76,440 shares of the company’s stock worth $529,000 after purchasing an additional 60,058 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Cricut Stock Down 1.1 %

Shares of NASDAQ CRCT opened at $5.16 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 18.43 and a beta of -0.02. The company’s 50-day simple moving average is $5.56 and its 200-day simple moving average is $5.86. Cricut, Inc. has a 52-week low of $4.66 and a 52-week high of $8.40.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The company had revenue of $209.31 million for the quarter, compared to analysts’ expectations of $214.41 million. Equities research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $5.63, for a total value of $119,637.50. Following the transaction, the chief executive officer now directly owns 3,717,090 shares of the company’s stock, valued at approximately $20,927,216.70. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 312,509 shares of company stock valued at $1,765,519 over the last ninety days. Insiders own 18.02% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley cut their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a research report on Thursday, March 6th.

Cricut 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.