Cricut (NASDAQ:CRCT) Stock Price Up 5.2% – What’s Next?

Shares of Cricut, Inc. (NASDAQ:CRCT) were up 5.2% during trading on Monday . The company traded as high as $5.47 and last traded at $5.46. Approximately 65,632 shares were traded during trading, a decline of 90% from the average daily volume of 676,353 shares. The stock had previously closed at $5.19.

Wall Street Analyst Weigh In

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

Cricut Trading Up 1.5 %

The company has a market cap of $1.19 billion, a price-to-earnings ratio of 19.86 and a beta of 0.03. The company’s 50 day moving average price is $6.12 and its 200 day moving average price is $6.10.

Cricut (NASDAQ:CRCT) last announced 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 for the quarter, compared to analyst estimates of $165.35 million. During the same period in the prior year, the company earned $0.08 EPS. Sell-side analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

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

Insider Buying and Selling at Cricut

In other Cricut news, CEO Arora Ashish sold 54,839 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the transaction, the chief executive officer now directly owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. This represents a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald B. Olsen sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the sale, the executive vice president now directly owns 625,833 shares in the company, valued at $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRCT. Vanguard Group Inc. boosted its holdings in Cricut by 10.9% in the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after acquiring an additional 360,080 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Cricut by 42.7% in the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after purchasing an additional 135,539 shares in the last quarter. Tenzing Global Management LLC grew its holdings in shares of Cricut by 4.9% during the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock worth $14,900,000 after purchasing an additional 100,000 shares during the period. Algert Global LLC acquired a new stake in Cricut during the 2nd quarter worth approximately $558,000. Finally, Martingale Asset Management L P lifted its position in Cricut by 258.6% during the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock valued at $872,000 after buying an additional 90,757 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

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.