Drive Wealth Management LLC Makes New $64,000 Investment in Cricut, Inc. (NASDAQ:CRCT)

Drive Wealth Management LLC bought a new position in shares of Cricut, Inc. (NASDAQ:CRCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,163 shares of the company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRCT. Burns Matteson Capital Management LLC acquired a new position in shares of Cricut during the 3rd quarter worth approximately $70,000. CWM LLC lifted its holdings in shares of Cricut by 23.9% during the 3rd quarter. CWM LLC now owns 12,026 shares of the company’s stock worth $83,000 after acquiring an additional 2,322 shares during the period. Quantbot Technologies LP bought a new stake in shares of Cricut during the 3rd quarter worth approximately $93,000. Nisa Investment Advisors LLC lifted its holdings in shares of Cricut by 141.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company’s stock worth $105,000 after acquiring an additional 10,805 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Cricut during the 3rd quarter worth approximately $118,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Insider Activity at Cricut

In related news, EVP Donald B. Olsen sold 30,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 625,833 shares of the company’s stock, valued at $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 54,839 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.29, for a total value of $290,098.31. Following the transaction, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at approximately $21,055,755.26. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 295,549 shares of company stock valued at $1,691,917 in the last quarter. Insiders own 18.02% of the company’s stock.

Analysts Set New Price Targets

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 report on Wednesday, November 6th.

Cricut Trading Down 1.2 %

Shares of Cricut stock opened at $5.53 on Wednesday. The company has a market cap of $1.19 billion, a PE ratio of 19.75 and a beta of -0.01. The company has a 50 day moving average of $5.70 and a 200-day moving average of $5.98. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $8.40.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to the consensus estimate of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same period in the previous year, the company earned $0.08 EPS. Research analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were paid a $0.50 dividend. This represents a yield of 3.4%. The ex-dividend date was Tuesday, January 7th. Cricut’s payout ratio is 71.43%.

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.