Insider Selling: Cricut, Inc. (NASDAQ:CRCT) Director Sells 1,960 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) Director Len Blackwell sold 1,960 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $6.40, for a total value of $12,544.00. Following the sale, the director now owns 1,506,087 shares in the company, valued at $9,638,956.80. The trade was a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cricut Trading Down 1.1 %

Shares of Cricut stock traded down $0.07 during midday trading on Thursday, reaching $6.05. The company had a trading volume of 253,966 shares, compared to its average volume of 663,679. The stock has a fifty day simple moving average of $5.96 and a 200 day simple moving average of $6.06. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $8.40. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 21.61 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 5th. The company reported $0.05 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 firm had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. During the same period last year, the business posted $0.08 earnings per share. Sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Burns Matteson Capital Management LLC bought a new position in shares of Cricut in the 3rd quarter worth $70,000. Arizona State Retirement System increased its stake 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 acquiring an additional 2,103 shares during the last quarter. CWM LLC grew its holdings in Cricut by 23.9% during the third quarter. CWM LLC now owns 12,026 shares of the company’s stock valued at $83,000 after purchasing an additional 2,322 shares during the period. Quantbot Technologies LP bought a new stake in Cricut in the third quarter valued at approximately $93,000. Finally, Nisa Investment Advisors LLC raised its holdings 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. Institutional investors own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th.

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.