Cricut (NASDAQ:CRCT) Rating Increased to Buy at Wall Street Zen

Key Points

• Cricut has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen.
• Citigroup has maintained a "sell" rating on Cricut with a price target reduced to $4.00, down from $6.00.
• Cricut's CEO recently sold 60,000 shares valued at $375,000, marking a decrease in ownership of the company's stock.

Cricut (NASDAQ:CRCT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

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

Cricut Price Performance

Shares of NASDAQ:CRCT opened at $5.68 on Friday. The company has a market cap of $1.20 billion, a P/E ratio of 17.21 and a beta of 0.15. Cricut has a 1 year low of $3.94 and a 1 year high of $7.33. The stock's fifty day moving average price is $5.99 and its 200-day moving average price is $5.62.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. On average, sell-side analysts anticipate that Cricut will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Cricut news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $6.25, for a total value of $375,000.00. Following the transaction, the chief executive officer owned 2,871,931 shares of the company's stock, valued at approximately $17,949,568.75. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 635,989 shares of company stock valued at $3,936,325 over the last 90 days. 18.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MQS Management LLC bought a new position in Cricut in the first quarter valued at about $59,000. Vanguard Personalized Indexing Management LLC bought a new position in Cricut in the second quarter valued at about $80,000. ProShare Advisors LLC bought a new position in Cricut in the fourth quarter valued at about $75,000. Copeland Capital Management LLC lifted its holdings in Cricut by 16.4% in the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company's stock valued at $92,000 after acquiring an additional 1,917 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in Cricut in the fourth quarter valued at about $84,000. Institutional investors own 19.60% of the company's stock.

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.

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