Lazard Asset Management LLC Has $1.22 Million Holdings in Cricut, Inc. (NASDAQ:CRCT)

Lazard Asset Management LLC grew its holdings in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 47.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 213,854 shares of the company's stock after acquiring an additional 68,725 shares during the quarter. Lazard Asset Management LLC owned about 0.10% of Cricut worth $1,218,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRCT. Exchange Traded Concepts LLC boosted its stake in Cricut by 4.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company's stock valued at $280,000 after buying an additional 2,272 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cricut by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock valued at $186,000 after buying an additional 2,684 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Cricut by 11.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock valued at $193,000 after buying an additional 3,365 shares in the last quarter. Algert Global LLC boosted its stake in Cricut by 4.5% during the fourth quarter. Algert Global LLC now owns 97,323 shares of the company's stock valued at $555,000 after buying an additional 4,213 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Cricut by 26.3% during the fourth quarter. SG Americas Securities LLC now owns 21,518 shares of the company's stock valued at $123,000 after buying an additional 4,484 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CRCT shares. Citigroup reaffirmed a "sell" rating and set a $4.00 target price (down previously from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley reduced their target price on 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 2.6%

Shares of NASDAQ CRCT traded down $0.16 during mid-day trading on Friday, hitting $5.95. 380,294 shares of the company traded hands, compared to its average volume of 447,673. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.17. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.25 and a beta of 0.01. The business has a 50 day moving average of $5.22 and a two-hundred day moving average of $5.49.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. As a group, research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a $0.10 dividend. This represents a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 7th. Cricut's dividend payout ratio is currently 64.52%.

Insider Buying and Selling

In related news, CEO Arora Ashish sold 5,283 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $5.25, for a total value of $27,735.75. Following the completion of the sale, the chief executive officer now directly owns 4,059,329 shares of the company's stock, valued at approximately $21,311,477.25. This represents a 0.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 365,009 shares of company stock valued at $2,156,294. Corporate insiders own 18.61% of the company's stock.

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.