Cricut (NASDAQ:CRCT) Reaches New 1-Year High - Should You Buy?

Shares of Cricut, Inc. (NASDAQ:CRCT - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $7.33 and last traded at $6.44, with a volume of 864933 shares trading hands. The stock had previously closed at $7.21.

Analysts Set New Price Targets

Separately, Citigroup reaffirmed a "sell" rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Cricut Stock Down 1.3%

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 19.58 and a beta of 0.16. The stock has a 50 day moving average of $6.25 and a 200 day moving average of $5.69.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a return on equity of 14.27% and a net margin of 9.48%. As a group, analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.10 per share. This represents a yield of 3.3%. The ex-dividend date is Monday, July 7th. Cricut's payout ratio is 64.52%.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $6.57, for a total transaction of $394,200.00. Following the completion of the transaction, the chief executive officer owned 2,931,931 shares of the company's stock, valued at approximately $19,262,786.67. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 480,000 shares of company stock worth $3,009,000 over the last three months. 18.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cricut by 6.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company's stock worth $154,000 after acquiring an additional 1,695 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cricut by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock worth $186,000 after purchasing an additional 2,684 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Cricut by 6.3% during the first quarter. XTX Topco Ltd now owns 56,003 shares of the company's stock worth $288,000 after purchasing an additional 3,326 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Cricut by 11.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock worth $193,000 after purchasing an additional 3,365 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Cricut by 4.5% during the fourth quarter. Algert Global LLC now owns 97,323 shares of the company's stock worth $555,000 after purchasing an additional 4,213 shares during the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.

About Cricut

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.