Shares of Cricut, Inc. (NASDAQ:CRCT - Get Free Report) rose 5.2% during trading on Tuesday . The stock traded as high as $5.83 and last traded at $5.85. Approximately 115,676 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 484,607 shares. The stock had previously closed at $5.56.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Cricut from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus target price of $4.52.
Read Our Latest Analysis on Cricut
Cricut Trading Up 2.4%
The company has a market cap of $1.28 billion, a PE ratio of 18.24 and a beta of 0.15. The firm's 50-day simple moving average is $5.84 and its two-hundred day simple moving average is $5.62.
Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. As a group, analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.
Insider Activity
In related news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $6.25, for a total transaction of $375,000.00. Following the completion of the sale, the chief executive officer owned 2,871,931 shares of the company's stock, valued at $17,949,568.75. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Matt Tuttle sold 40,491 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $5.69, for a total transaction of $230,393.79. Following the completion of the transaction, the general counsel owned 329,164 shares in the company, valued at approximately $1,872,943.16. This trade represents a 10.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 510,570 shares of company stock valued at $3,111,450. Company insiders own 18.61% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. American Century Companies Inc. lifted its holdings in Cricut by 11.5% in the second quarter. American Century Companies Inc. now owns 1,544,659 shares of the company's stock valued at $10,457,000 after acquiring an additional 159,339 shares during the period. Geode Capital Management LLC boosted its holdings in Cricut by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company's stock worth $9,449,000 after buying an additional 91,339 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cricut by 20.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock worth $6,169,000 after purchasing an additional 157,448 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cricut by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company's stock worth $2,502,000 after buying an additional 9,300 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Cricut by 10.9% in the 4th quarter. Northern Trust Corp now owns 451,772 shares of the company's stock worth $2,575,000 after purchasing an additional 44,260 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.
Cricut Company Profile
(
Get Free Report)
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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