JPMorgan Chase & Co. Buys 138,385 Shares of Cricut, Inc. (NASDAQ:CRCT)

JPMorgan Chase & Co. boosted its position in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 296.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,098 shares of the company's stock after purchasing an additional 138,385 shares during the quarter. JPMorgan Chase & Co. owned about 0.09% of Cricut worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Cricut by 5.8% in the second quarter. Rhumbline Advisers now owns 62,092 shares of the company's stock worth $372,000 after buying an additional 3,397 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Cricut by 42.7% during 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cricut by 217.5% during the second quarter. Dimensional Fund Advisors LP now owns 92,139 shares of the company's stock worth $552,000 after purchasing an additional 63,116 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Cricut by 4.9% during the second quarter. Renaissance Technologies LLC now owns 386,100 shares of the company's stock worth $2,313,000 after purchasing an additional 17,958 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Cricut in the second quarter worth approximately $370,000. 19.60% of the stock is owned by institutional investors.

Cricut Stock Down 2.5 %

Shares of Cricut stock traded down $0.15 during trading on Friday, hitting $5.79. 226,226 shares of the stock traded hands, compared to its average volume of 222,663. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 20.68 and a beta of -0.01. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40. The firm's fifty day moving average is $5.69 and its 200-day moving average is $5.98.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $165.35 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Dividend Announcement

The firm also recently declared a None dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a yield of 3.4%. Cricut's payout ratio is 71.43%.

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.

Insider Activity

In other news, CEO Arora Ashish sold 54,839 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the transaction, the chief executive officer now owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,549 shares of company stock valued at $1,691,917. 18.02% of the stock is currently owned by insiders.

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.