Dimensional Fund Advisors LP Boosts Stake in Cricut, Inc. (NASDAQ:CRCT)

Dimensional Fund Advisors LP increased its position in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 46.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,114 shares of the company's stock after purchasing an additional 40,174 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Cricut worth $725,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRCT. Barclays PLC boosted its position in shares of Cricut by 366.6% during the third quarter. Barclays PLC now owns 76,440 shares of the company's stock worth $529,000 after acquiring an additional 60,058 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cricut by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company's stock valued at $1,283,000 after purchasing an additional 138,385 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cricut by 141.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company's stock valued at $105,000 after purchasing an additional 10,805 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cricut by 26.3% in the fourth quarter. SG Americas Securities LLC now owns 21,518 shares of the company's stock worth $123,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Cricut by 4.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company's stock worth $280,000 after buying an additional 2,272 shares in the last quarter. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $5.59, for a total transaction of $335,400.00. Following the sale, the chief executive officer now directly owns 3,391,635 shares of the company's stock, valued at $18,959,239.65. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 305,009 shares of company stock valued at $1,785,494. Company insiders own 18.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup restated a "sell" rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley dropped their price objective on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research note on Thursday, March 6th.

Cricut Price Performance

Shares of NASDAQ:CRCT traded up $0.08 during trading hours on Tuesday, hitting $6.26. The company's stock had a trading volume of 427,468 shares, compared to its average volume of 453,526. The firm's fifty day moving average price is $5.16 and its 200 day moving average price is $5.49. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.17. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.36 and a beta of 0.01.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The business had revenue of $162.63 million for the quarter, compared to analysts' expectations of $158.55 million. On average, equities research analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

The company also recently declared 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. The ex-dividend date is Monday, July 7th. This represents a yield of 3.3%. Cricut's payout ratio is presently 64.52%.

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.