Jane Street Group LLC Cuts Holdings in Cricut, Inc. (NASDAQ:CRCT)

Jane Street Group LLC trimmed its position in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 71.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,445 shares of the company's stock after selling 122,345 shares during the period. Jane Street Group LLC's holdings in Cricut were worth $336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in 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 acquiring an additional 135,539 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cricut by 6.9% in the third 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 purchasing an additional 5,613 shares during the last quarter. Algert Global LLC bought a new position in shares of Cricut in the second quarter valued at approximately $558,000. Renaissance Technologies LLC boosted its position in shares of Cricut by 4.9% during the second quarter. Renaissance Technologies LLC now owns 386,100 shares of the company's stock valued at $2,313,000 after buying an additional 17,958 shares during the last quarter. Finally, State Street Corp grew its holdings in Cricut by 3.2% during the third quarter. State Street Corp now owns 1,019,025 shares of the company's stock worth $7,062,000 after buying an additional 31,584 shares in the last quarter. 19.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lowered their target price on shares of Cricut from $6.50 to $5.75 and set a "neutral" rating for the company in a report on Wednesday, November 6th.

Insider Transactions at Cricut

In related news, EVP Donald B. Olsen sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.23, for a total value of $156,900.00. Following the completion of the transaction, the executive vice president now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arora Ashish sold 54,839 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.29, for a total transaction of $290,098.31. Following the sale, the chief executive officer now directly owns 3,980,294 shares in the company, valued at $21,055,755.26. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 253,049 shares of company stock worth $1,445,205 in the last quarter. Insiders own 18.02% of the company's stock.

Cricut Trading Down 1.1 %

Shares of CRCT traded down $0.06 on Friday, reaching $5.56. 284,749 shares of the company's stock traded hands, compared to its average volume of 339,808. The stock's 50 day simple moving average is $5.68 and its two-hundred day simple moving average is $5.97. Cricut, Inc. has a 52-week low of $4.43 and a 52-week high of $8.40. The stock has a market cap of $1.19 billion, a PE ratio of 19.86 and a beta of -0.01.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $167.89 million during the quarter, compared to analysts' expectations of $165.35 million. During the same period last year, the firm posted $0.08 earnings per share. Analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

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

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.