Cricut, Inc. (NASDAQ:CRCT - Get Free Report) was down 3% during mid-day trading on Friday . The stock traded as low as $5.87 and last traded at $5.87. Approximately 111,866 shares were traded during trading, a decline of 83% from the average daily volume of 661,403 shares. The stock had previously closed at $6.05.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group reduced their target price on Cricut from $6.50 to $5.75 and set a "neutral" rating on the stock in a report on Wednesday, November 6th.
Get Our Latest Analysis on CRCT
Cricut Trading Down 2.0 %
The stock's 50-day moving average price is $5.94 and its 200-day moving average price is $6.06. The company has a market capitalization of $1.27 billion, a P/E ratio of 21.18 and a beta of 0.03.
Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) 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 the consensus estimate of $165.35 million. During the same period in the prior year, the business earned $0.08 EPS. Sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.
Cricut Dividend Announcement
The business also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a yield of 3.4%. Cricut's dividend payout ratio is currently 71.43%.
Insider Buying and Selling
In other news, CEO Arora Ashish sold 54,839 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 625,833 shares of the company's stock, valued at $3,273,106.59. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 210,549 shares of company stock worth $1,199,555 in the last three months. 18.02% of the stock is owned by insiders.
Institutional Investors Weigh In On Cricut
Several institutional investors have recently bought and sold shares of CRCT. Nisa Investment Advisors LLC lifted its position in Cricut by 252,185.7% in the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company's stock worth $106,000 after purchasing an additional 17,653 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Cricut by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 215,099 shares of the company's stock valued at $1,288,000 after buying an additional 18,939 shares during the period. Principal Financial Group Inc. boosted its stake in Cricut by 9.8% during the second quarter. Principal Financial Group Inc. now owns 33,899 shares of the company's stock valued at $203,000 after buying an additional 3,034 shares in the last quarter. Rhumbline Advisers grew its holdings in Cricut by 5.8% during the second quarter. Rhumbline Advisers now owns 62,092 shares of the company's stock worth $372,000 after acquiring an additional 3,397 shares during the period. Finally, Arizona State Retirement System raised its position in Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company's stock worth $73,000 after acquiring an additional 2,103 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.
Cricut Company Profile
(
Get Free Report)
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.
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