Ieq Capital LLC Buys New Stake in Cricut, Inc. $CRCT

Key Points

• Ieq Capital LLC has acquired a new position in Cricut, Inc., purchasing 97,043 shares valued at approximately $500,000.
• Wall Street analysts have upgraded Cricut's rating from "hold" to "buy", though the average rating remains a "sell" with a target price of $4.52.
• In its latest earnings report, Cricut exceeded expectations with a net revenue of $172.11 million and earnings per share of $0.11, surpassing the consensus estimate of $0.06.

Ieq Capital LLC bought a new stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 97,043 shares of the company's stock, valued at approximately $500,000.

Other institutional investors also recently bought and sold shares of the company. MQS Management LLC acquired a new stake in Cricut in the first quarter valued at approximately $59,000. ProShare Advisors LLC acquired a new stake in Cricut in the fourth quarter valued at approximately $75,000. Public Employees Retirement System of Ohio acquired a new stake in Cricut in the fourth quarter valued at approximately $89,000. Kapitalo Investimentos Ltda acquired a new stake in Cricut in the first quarter valued at approximately $97,000. Finally, R Squared Ltd boosted its stake in Cricut by 208.9% in the first quarter. R Squared Ltd now owns 19,675 shares of the company's stock valued at $101,000 after acquiring an additional 13,305 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Cricut

In related news, General Counsel Matt Tuttle sold 40,491 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $5.69, for a total transaction of $230,393.79. Following the completion of the transaction, the general counsel directly owned 329,164 shares in the company, valued at $1,872,943.16. The trade was a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arora Ashish sold 21,250 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $5.75, for a total transaction of $122,187.50. Following the transaction, the chief executive officer owned 2,909,061 shares of the company's stock, valued at $16,727,100.75. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 436,650 shares of company stock worth $2,628,343. Company insiders own 18.61% of the company's stock.

Cricut Trading Up 0.2%

Shares of NASDAQ:CRCT traded up $0.01 on Wednesday, hitting $6.24. 682,083 shares of the company were exchanged, compared to its average volume of 610,815. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The stock's 50 day moving average price is $5.63 and its 200 day moving average price is $5.63. The firm has a market capitalization of $1.33 billion, a P/E ratio of 18.91 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 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 business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. On average, equities analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut 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.