Cricut (NASDAQ:CRCT) Trading Up 4.6% – What’s Next?

Cricut, Inc. (NASDAQ:CRCT)’s share price was up 4.6% during mid-day trading on Thursday . The stock traded as high as $5.70 and last traded at $5.69. Approximately 369,495 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 308,195 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

CRCT has been the topic of several analyst reports. Morgan Stanley decreased their target price on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price objective on shares of 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 Up 4.4 %

The business’s 50 day moving average price is $5.68 and its two-hundred day moving average price is $5.91. The stock has a market cap of $1.22 billion, a P/E ratio of 20.29 and a beta of -0.02.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $209.31 million for the quarter, compared to analyst estimates of $214.41 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. As a group, analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current year.

Insider Transactions at Cricut

In related news, CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $5.59, for a total transaction of $335,400.00. Following the sale, the chief executive officer now owns 3,391,635 shares of the company’s stock, valued at $18,959,239.65. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 373,210 shares of company stock valued at $2,168,982 in the last three months. 18.02% of the stock is currently owned by company insiders.

Institutional Trading of Cricut

Hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Cricut by 366.6% during the third quarter. Barclays PLC now owns 76,440 shares of the company’s stock valued at $529,000 after buying an additional 60,058 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cricut by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after buying an additional 9,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cricut by 6.9% during 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 worth $607,000 after acquiring an additional 5,613 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cricut by 296.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock worth $1,283,000 after buying an additional 138,385 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Cricut by 26.3% in the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock worth $123,000 after purchasing an additional 4,484 shares in the last quarter. 19.60% of the stock is owned by institutional investors.

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.