Tenzing Global Management LLC Has $14.90 Million Position in Cricut, Inc. (NASDAQ:CRCT)

Tenzing Global Management LLC raised its holdings in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,150,000 shares of the company's stock after acquiring an additional 100,000 shares during the quarter. Cricut makes up approximately 10.6% of Tenzing Global Management LLC's holdings, making the stock its biggest position. Tenzing Global Management LLC owned approximately 0.99% of Cricut worth $14,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRCT. CWM LLC raised its holdings in Cricut by 150.8% during the second quarter. CWM LLC now owns 9,704 shares of the company's stock worth $58,000 after acquiring an additional 5,835 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of Cricut during the 3rd quarter worth approximately $70,000. Arizona State Retirement System boosted its holdings in shares of Cricut by 20.8% in 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 during the last quarter. Quantbot Technologies LP bought a new position in shares of Cricut in the third quarter valued at $93,000. Finally, Nisa Investment Advisors LLC increased its holdings in Cricut by 252,185.7% during the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company's stock worth $106,000 after buying an additional 17,653 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cricut

In other news, EVP Donald B. Olsen sold 30,000 shares of Cricut stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $290,098.31. Following the completion of the transaction, the chief executive officer now owns 3,980,294 shares in the company, valued at $21,055,755.26. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut their price target 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 Down 0.4 %

Shares of CRCT traded down $0.02 during mid-day trading on Friday, reaching $5.56. The company's stock had a trading volume of 265,444 shares, compared to its average volume of 672,437. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $8.40. The business has a 50-day simple moving average of $6.05 and a two-hundred day simple moving average of $6.08. The stock has a market cap of $1.19 billion, a P/E ratio of 19.93 and a beta of 0.03.

Cricut (NASDAQ:CRCT - Get Free Report) last announced 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). Cricut had a net margin of 8.47% and a return on equity of 12.36%. 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 business earned $0.08 EPS. Research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Announces Dividend

The business also recently announced a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut's payout ratio is 71.43%.

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.