American Century Companies Inc. Increases Stake in Cricut, Inc. (NASDAQ:CRCT)

American Century Companies Inc. grew its stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 25.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,190,019 shares of the company's stock after acquiring an additional 244,058 shares during the period. American Century Companies Inc. owned about 0.55% of Cricut worth $6,783,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Cricut in the fourth quarter valued at approximately $36,000. Copeland Capital Management LLC acquired a new stake in shares of Cricut in the 4th quarter valued at $63,000. Drive Wealth Management LLC purchased a new stake in Cricut during the 4th quarter worth about $64,000. Olympiad Research LP purchased a new position in shares of Cricut in the 4th quarter valued at about $67,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Cricut during the 3rd quarter worth about $93,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered their price target on Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a report on Thursday, March 6th.

Cricut Trading Down 6.3 %

NASDAQ:CRCT traded down $0.31 during midday trading on Tuesday, hitting $4.61. 653,804 shares of the company were exchanged, compared to its average volume of 503,702. Cricut, Inc. has a fifty-two week low of $4.53 and a fifty-two week high of $8.40. The company has a market capitalization of $979.83 million, a PE ratio of 16.46 and a beta of -0.02. The company has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $5.79.

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

Insiders Place Their Bets

In other news, CEO Arora Ashish sold 5,283 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $5.25, for a total transaction of $27,735.75. Following the transaction, the chief executive officer now directly owns 4,059,329 shares in the company, valued at approximately $21,311,477.25. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 291,259 shares of company stock valued at $1,639,506 over the last quarter. Company insiders own 18.02% of the company's stock.

Cricut 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.