Millennium Management LLC reduced its stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,307 shares of the company's stock after selling 224,809 shares during the period. Millennium Management LLC owned 0.12% of Cricut worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cricut by 6.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company's stock worth $154,000 after acquiring an additional 1,695 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Cricut by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock worth $186,000 after purchasing an additional 2,684 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Cricut by 11.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock worth $193,000 after purchasing an additional 3,365 shares in the last quarter. Algert Global LLC raised its holdings in shares of Cricut by 4.5% in the 4th quarter. Algert Global LLC now owns 97,323 shares of the company's stock worth $555,000 after purchasing an additional 4,213 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Cricut by 26.3% in the 4th 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 in the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CRCT has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a report on Thursday, March 6th. Citigroup reiterated a "sell" rating and issued a $4.00 target price (down from $6.00) on shares of Cricut in a report on Monday, April 14th.
View Our Latest Analysis on CRCT
Cricut Stock Down 0.9%
Shares of CRCT stock traded down $0.06 during trading hours on Friday, reaching $6.42. 410,756 shares of the stock traded hands, compared to its average volume of 441,830. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.17. The business has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.54. The firm has a market capitalization of $1.36 billion, a PE ratio of 22.93 and a beta of 0.12.
Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $158.55 million. Research analysts expect 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. Stockholders of record on Monday, July 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, July 7th. This represents a dividend yield of 3.3%. Cricut's dividend payout ratio is currently 64.52%.
Insider Activity
In other news, CEO Arora Ashish sold 35,203 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.37, for a total transaction of $189,040.11. Following the sale, the chief executive officer now owns 3,265,322 shares in the company, valued at $17,534,779.14. The trade was a 1.07% 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 have sold 425,009 shares of company stock worth $2,573,894 over the last 90 days. 18.61% of the stock is owned by company insiders.
Cricut Company Profile
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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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