Northern Trust Corp Grows Stock Holdings in Cricut, Inc. (NASDAQ:CRCT)

Northern Trust Corp boosted its position in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 451,772 shares of the company's stock after acquiring an additional 44,260 shares during the quarter. Northern Trust Corp owned 0.21% of Cricut worth $2,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CRCT. R Squared Ltd bought a new position in Cricut in the fourth quarter valued at $36,000. Copeland Capital Management LLC bought a new position in Cricut in the fourth quarter valued at $63,000. Drive Wealth Management LLC bought a new position in Cricut in the fourth quarter valued at $64,000. Olympiad Research LP bought a new position in Cricut in the fourth quarter valued at $67,000. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Cricut during the fourth quarter valued at about $72,000. Institutional investors own 19.60% of the company's stock.

Cricut Trading Down 1.3%

Shares of NASDAQ:CRCT traded down $0.08 on Thursday, reaching $5.91. 218,814 shares of the company traded hands, compared to its average volume of 444,398. The business's 50-day simple moving average is $5.27 and its 200 day simple moving average is $5.50. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.17. The stock has a market capitalization of $1.25 billion, a P/E ratio of 21.11 and a beta of 0.01.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $162.63 million for the quarter, compared to analysts' expectations of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. Sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Monday, July 7th. This represents a dividend yield of 3.3%. Cricut's payout ratio is presently 64.52%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $5.94, for a total transaction of $356,400.00. Following the sale, the chief executive officer now directly owns 3,291,931 shares of the company's stock, valued at approximately $19,554,070.14. The trade was a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 305,009 shares of company stock valued at $1,820,894 over the last ninety days. 18.61% of the stock is owned by insiders.

About Cricut

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.