PDT Partners LLC Has $312,000 Position in Cricut, Inc. $CRCT

Key Points

• PDT Partners LLC sold 66,471 shares of Cricut, Inc., reducing its holdings by 52.3%, leaving them with 60,639 shares worth $312,000.
• CEO Arora Ashish and General Counsel Matt Tuttle sold significant amounts of stock recently, indicating potential concerns amidst insider trading trends.
• Analysts have downgraded Cricut's stock from a "buy" to a "hold," with the current consensus rating being "Sell" and a price target of $4.52.

PDT Partners LLC lessened its holdings in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 52.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,639 shares of the company's stock after selling 66,471 shares during the quarter. PDT Partners LLC's holdings in Cricut were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRCT. American Century Companies Inc. grew its stake in Cricut by 16.4% during the 1st quarter. American Century Companies Inc. now owns 1,385,320 shares of the company's stock valued at $7,134,000 after purchasing an additional 195,301 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Cricut during the 1st quarter valued at approximately $541,000. BNP Paribas Financial Markets acquired a new stake in Cricut during the 4th quarter valued at approximately $589,000. Ieq Capital LLC bought a new stake in shares of Cricut in the 1st quarter worth about $500,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Cricut in the 4th quarter worth about $436,000. Institutional investors and hedge funds own 19.60% of the company's stock.

Insider Buying and Selling

In related news, CEO Arora Ashish sold 21,250 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $6.36, for a total value of $135,150.00. Following the completion of the transaction, the chief executive officer owned 2,845,311 shares of the company's stock, valued at approximately $18,096,177.96. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan Harmer sold 18,771 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $5.70, for a total transaction of $106,994.70. Following the completion of the transaction, the insider directly owned 334,951 shares of the company's stock, valued at $1,909,220.70. This represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 479,150 shares of company stock worth $2,894,393. Corporate insiders own 18.61% of the company's stock.

Cricut Stock Performance

Shares of NASDAQ:CRCT traded up $0.24 during trading hours on Thursday, hitting $6.48. The stock had a trading volume of 809,684 shares, compared to its average volume of 617,188. The stock's fifty day simple moving average is $5.62 and its 200 day simple moving average is $5.64. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 19.64 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $172.11 million during the quarter, compared to analysts' expectations of $158.59 million. Cricut had a net margin of 10.09% and a return on equity of 16.49%. As a group, research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

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

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.