Jacobs Levy Equity Management Inc. Buys 233,292 Shares of Cricut, Inc. $CRCT

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Cricut, Inc. by 305.1% in the first quarter, purchasing an additional 233,292 shares to own a total of 309,756 shares. The investment is valued at approximately $1.6 million.
• Cricut's shares opened at $6.24 with a 52-week low of $3.94 and a high of $7.33, indicating volatility in the stock price.
• Insider selling activity was noted, including CEO Ashish Arora selling 60,000 shares for $375,000, reflecting a 2.05% decrease in his ownership.

Jacobs Levy Equity Management Inc. boosted its stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 305.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 309,756 shares of the company's stock after buying an additional 233,292 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.15% of Cricut worth $1,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MQS Management LLC purchased a new stake in Cricut during the 1st quarter valued at $59,000. ProShare Advisors LLC purchased a new stake in Cricut in the fourth quarter worth $75,000. Public Employees Retirement System of Ohio purchased a new stake in Cricut in the fourth quarter worth $89,000. Kapitalo Investimentos Ltda purchased a new stake in Cricut in the first quarter worth $97,000. Finally, R Squared Ltd increased its stake in Cricut by 208.9% in the first quarter. R Squared Ltd now owns 19,675 shares of the company's stock worth $101,000 after purchasing an additional 13,305 shares during the period. Hedge funds and other institutional investors own 19.60% of the company's stock.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 21,250 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $6.36, for a total transaction of $135,150.00. Following the sale, the chief executive officer owned 2,845,311 shares of the company's stock, valued at $18,096,177.96. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Matt Tuttle sold 40,491 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $5.69, for a total value of $230,393.79. Following the sale, the general counsel directly owned 329,164 shares in the company, valued at approximately $1,872,943.16. The trade was a 10.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 419,150 shares of company stock valued at $2,504,393 over the last quarter. 18.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen lowered 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. According to MarketBeat.com, the company has an average rating of "Sell" and an average price target of $4.52.

Cricut Trading Up 2.3%

Shares of CRCT traded up $0.15 during midday trading on Tuesday, reaching $6.70. 710,157 shares of the stock were exchanged, compared to its average volume of 646,942. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33. The company's 50 day moving average is $5.63 and its two-hundred day moving average is $5.66. The company has a market capitalization of $1.42 billion, a P/E ratio of 20.30 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. Cricut had a return on equity of 16.49% and a net margin of 10.09%.The business had revenue of $172.11 million for the quarter, compared to the consensus estimate of $158.59 million. On average, sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current 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.