Northern Trust Corp Raises Stake in Cricut, Inc. (NASDAQ:CRCT)

Northern Trust Corp grew its stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 451,772 shares of the company's stock after acquiring an additional 44,260 shares during the period. Northern Trust Corp owned 0.21% of Cricut worth $2,575,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CRCT. JPMorgan Chase & Co. grew its holdings in 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. Nisa Investment Advisors LLC increased its stake in Cricut by 141.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company's stock worth $105,000 after acquiring an additional 10,805 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Cricut by 26.3% during the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company's stock valued at $123,000 after acquiring an additional 4,484 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Cricut by 4.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company's stock worth $280,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Drive Wealth Management LLC bought a new position in shares of Cricut in the fourth quarter worth approximately $64,000. 19.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRCT. Citigroup reissued a "sell" rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th. Morgan Stanley reduced their target price on Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a research note on Thursday, March 6th.

Insiders Place Their Bets

In other news, CEO Arora Ashish sold 23,813 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.40, for a total transaction of $128,590.20. Following the completion of the sale, the chief executive officer now directly owns 3,307,822 shares in the company, valued at approximately $17,862,238.80. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 305,009 shares of company stock valued at $1,820,894 in the last ninety days. Company insiders own 18.61% of the company's stock.

Cricut Price Performance

NASDAQ CRCT traded down $0.08 on Thursday, reaching $5.92. 41,887 shares of the company's stock traded hands, compared to its average volume of 404,124. The stock has a market cap of $1.25 billion, a PE ratio of 21.13 and a beta of 0.01. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.17. The stock has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $5.50.

Cricut (NASDAQ:CRCT - Get Free Report) last released 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. The company had revenue of $162.63 million for 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%. As a group, analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

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

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.