64,600 Shares in Cricut, Inc. $CRCT Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in Cricut, purchasing 64,600 shares valued at approximately $333,000. This move indicates growing institutional interest in the company.
• Cricut's recent earnings report showed earnings per share of $0.11, beating estimates, and revenue of $172.11 million, exceeding analyst expectations of $158.59 million.
• Wall Street analysts have downgraded Cricut from a "buy" to a "hold," with a consensus price target of $4.52, reflecting a cautious outlook on the stock.

Strs Ohio bought a new position in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,600 shares of the company's stock, valued at approximately $333,000.

A number of other hedge funds have also modified their holdings of CRCT. Jacobs Levy Equity Management Inc. raised its position in shares of Cricut by 305.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company's stock valued at $1,595,000 after purchasing an additional 233,292 shares during the period. American Century Companies Inc. raised its holdings in Cricut by 16.4% during the first quarter. American Century Companies Inc. now owns 1,385,320 shares of the company's stock valued at $7,134,000 after acquiring an additional 195,301 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in shares of Cricut in the first quarter valued at about $541,000. Ieq Capital LLC bought a new position in shares of Cricut in the first quarter worth about $500,000. Finally, Ascent Group LLC purchased a new stake in shares of Cricut during the first quarter worth about $218,000. 19.60% of the stock is currently owned by institutional investors.

Cricut Price Performance

Shares of NASDAQ:CRCT opened at $6.80 on Wednesday. The firm has a market capitalization of $1.44 billion, a PE ratio of 20.61 and a beta of 0.16. The business has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $5.71. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Cricut from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus price target of $4.52.

Insider Activity at Cricut

In other Cricut news, General Counsel Matt Tuttle sold 40,491 shares of the stock in a transaction 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 sale, the general counsel owned 329,164 shares of the company's stock, valued at approximately $1,872,943.16. This trade represents a 10.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $6.25, for a total value of $375,000.00. Following the sale, the chief executive officer directly owned 2,871,931 shares in the company, valued at approximately $17,949,568.75. The trade was a 2.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,150 shares of company stock worth $2,110,193. 18.02% of the stock is currently owned by corporate insiders.

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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