Martingale Asset Management L P Has $1.31 Million Position in Cricut, Inc. (NASDAQ:CRCT)

Martingale Asset Management L P raised its position in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 82.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,871 shares of the company's stock after purchasing an additional 104,025 shares during the quarter. Martingale Asset Management L P owned approximately 0.11% of Cricut worth $1,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Cricut during the 4th quarter worth about $36,000. Copeland Capital Management LLC acquired a new position in Cricut in the 4th quarter valued at $63,000. Drive Wealth Management LLC bought a new position in Cricut in the 4th quarter worth $64,000. Olympiad Research LP bought a new position in Cricut in the 4th quarter worth $67,000. Finally, Caisse Des Depots ET Consignations acquired a new position in Cricut during the 4th quarter worth $72,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRCT shares. Morgan Stanley cut their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research report on Thursday, March 6th. Citigroup reissued a "sell" rating and issued a $4.00 price objective (down from $6.00) on shares of Cricut in a research report on Monday.

Insider Buying and Selling

In other news, CEO Arora Ashish sold 5,283 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $5.25, for a total value of $27,735.75. Following the sale, the chief executive officer now owns 4,059,329 shares in the company, valued at approximately $21,311,477.25. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 270,009 shares of company stock valued at $1,519,869 over the last quarter. Corporate insiders own 18.02% of the company's stock.

Cricut Trading Up 0.6 %

CRCT traded up $0.03 on Thursday, hitting $4.14. 192,179 shares of the stock traded hands, compared to its average volume of 495,158. Cricut, Inc. has a 52 week low of $3.95 and a 52 week high of $8.40. The firm has a market capitalization of $878.87 million, a PE ratio of 14.77 and a beta of -0.02. The business has a fifty day moving average price of $5.34 and a two-hundred day moving average price of $5.71.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. The firm had revenue of $209.31 million for the quarter, compared to the consensus estimate of $214.41 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. On average, equities research analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

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.