American Century Companies Inc. Raises Stock Holdings in Cricut, Inc. $CRCT

Key Points

• American Century Companies Inc. increased its stake in Cricut, Inc. by 16.4%, owning approximately 1,385,320 shares valued at $7.13 million by the end of the most recent quarter.
• Cricut's latest earnings report showed an EPS of $0.11, surpassing analysts' expectations, with revenues of $172.11 million compared to estimates of $158.59 million.
• Wall Street analysts have updated Cricut's rating from "hold" to "buy," though the overall average rating remains a "sell" with a price target of $4.52.

American Century Companies Inc. boosted its holdings in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 16.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,385,320 shares of the company's stock after buying an additional 195,301 shares during the quarter. American Century Companies Inc. owned 0.65% of Cricut worth $7,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CRCT. MQS Management LLC purchased a new position in shares of Cricut during the 1st quarter valued at approximately $59,000. ProShare Advisors LLC purchased a new position in shares of Cricut during the 4th quarter valued at approximately $75,000. Public Employees Retirement System of Ohio purchased a new position in shares of Cricut during the 4th quarter valued at approximately $89,000. Kapitalo Investimentos Ltda purchased a new position in shares of Cricut during the 1st quarter valued at approximately $97,000. Finally, R Squared Ltd increased its holdings in shares of Cricut by 208.9% during the 1st quarter. R Squared Ltd now owns 19,675 shares of the company's stock valued at $101,000 after purchasing an additional 13,305 shares in the last quarter. 19.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cricut

In other news, General Counsel Matt Tuttle sold 40,491 shares of Cricut 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 transaction, the general counsel owned 329,164 shares in the company, valued at $1,872,943.16. The trade was a 10.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction on 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 in the company, valued at approximately $17,949,568.75. This represents a 2.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 496,650 shares of company stock worth $3,008,143. Insiders own 18.02% of the company's stock.

Cricut Trading Down 0.9%

CRCT traded down $0.05 on Monday, hitting $5.70. 483,622 shares of the company's stock were exchanged, compared to its average volume of 810,290. Cricut, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $7.33. The firm has a 50-day moving average price of $5.76 and a 200-day moving average price of $5.63. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 17.27 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (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 company had revenue of $172.11 million for the quarter, compared to analysts' expectations of $158.59 million. On average, equities analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Cricut from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Cricut presently has a consensus rating of "Sell" and a consensus price target of $4.52.

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.