Tenzing Global Management LLC Reduces Holdings in Cricut, Inc. (NASDAQ:CRCT)

Tenzing Global Management LLC cut its holdings in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 57.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 925,000 shares of the company's stock after selling 1,225,000 shares during the period. Cricut accounts for 3.9% of Tenzing Global Management LLC's portfolio, making the stock its 12th largest holding. Tenzing Global Management LLC owned 0.43% of Cricut worth $5,272,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Cricut by 175.0% in the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock worth $2,716,000 after purchasing an additional 303,236 shares during the period. American Century Companies Inc. raised its stake in shares of Cricut by 25.8% in the fourth quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock worth $6,783,000 after buying an additional 244,058 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Cricut during the 4th quarter valued at about $1,029,000. JPMorgan Chase & Co. lifted its position 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 buying an additional 138,385 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Cricut during the 4th quarter valued at approximately $651,000. Institutional investors own 19.60% of the company's stock.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $6.22, for a total transaction of $373,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,879,329 shares in the company, valued at approximately $24,129,426.38. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 245,009 shares of company stock worth $1,429,094 in the last quarter. 18.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRCT has been the topic of several analyst reports. Citigroup reaffirmed a "sell" rating and set a $4.00 price target (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th. Morgan Stanley dropped their target price on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a report on Thursday, March 6th.

Cricut Stock Down 2.5%

NASDAQ CRCT traded down $0.16 during trading hours on Friday, reaching $5.96. The company's stock had a trading volume of 162,482 shares, compared to its average volume of 448,764. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.17. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.27 and a beta of 0.01. The firm's 50-day moving average price is $5.21 and its 200-day moving average price is $5.50.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The firm had revenue of $162.63 million during the quarter, compared to analyst estimates of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Equities research analysts anticipate that Cricut, Inc. will post 0.28 EPS 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. Investors of record on Monday, July 7th will be paid a dividend of $0.10 per share. This represents a yield of 3.3%. The ex-dividend date is Monday, July 7th. Cricut's payout ratio is presently 64.52%.

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.