Fmr LLC Boosts Holdings in Cricut, Inc. (NASDAQ:CRCT)

Fmr LLC raised its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 779.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,840 shares of the company’s stock after buying an additional 17,584 shares during the period. Fmr LLC’s holdings in Cricut were worth $137,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CRCT. Burns Matteson Capital Management LLC purchased a new position in Cricut during the third quarter valued at approximately $70,000. CWM LLC raised its position in shares of Cricut by 23.9% during the 3rd 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 period. Arizona State Retirement System lifted its stake in shares of Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after buying an additional 2,103 shares in the last quarter. Quantbot Technologies LP bought a new position in Cricut in the 3rd quarter worth $93,000. Finally, SG Americas Securities LLC purchased a new stake in Cricut in the 3rd quarter worth $118,000. 19.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group dropped 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 Trading Down 2.0 %

Shares of NASDAQ CRCT opened at $5.93 on Monday. Cricut, Inc. has a 12-month low of $4.43 and a 12-month high of $8.40. The stock’s fifty day simple moving average is $5.94 and its two-hundred day simple moving average is $6.06. The stock has a market capitalization of $1.27 billion, a PE ratio of 21.18 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data 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). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. During the same period in the previous year, the business earned $0.08 EPS. On average, equities analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Dividend Announcement

The business also recently declared a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $0.50 dividend. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s payout ratio is presently 71.43%.

Insiders Place Their Bets

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.87, for a total transaction of $352,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,897,038 shares in the company, valued at approximately $22,875,613.06. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald B. Olsen sold 30,000 shares of Cricut stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total value of $156,900.00. Following the completion of the sale, the executive vice president now owns 625,833 shares in the company, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,549 shares of company stock worth $1,199,555. Corporate insiders own 18.02% 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.