Teacher Retirement System of Texas Sells 73,003 Shares of Cricut, Inc. (NASDAQ:CRCT)

Teacher Retirement System of Texas reduced its stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 40.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,476 shares of the company's stock after selling 73,003 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Cricut worth $554,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRCT. Simplicity Wealth LLC acquired a new stake in Cricut in the first quarter valued at approximately $134,000. Public Employees Retirement System of Ohio bought a new stake in shares of Cricut during the 4th quarter valued at $89,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cricut by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,035 shares of the company's stock valued at $639,000 after purchasing an additional 24,507 shares during the period. State of Wyoming raised its stake in shares of Cricut by 138.1% during the 4th quarter. State of Wyoming now owns 87,097 shares of the company's stock valued at $496,000 after purchasing an additional 50,514 shares during the period. Finally, ProShare Advisors LLC bought a new position in Cricut in the 4th quarter worth about $75,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup reiterated a "sell" rating and issued a $4.00 price objective (down from $6.00) on shares of Cricut in a report on Monday, April 14th.

Insider Activity

In other news, CEO Arora Ashish sold 53,489 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $5.94, for a total value of $317,724.66. Following the completion of the sale, the chief executive officer directly owned 2,758,442 shares of the company's stock, valued at $16,385,145.48. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 593,489 shares of company stock valued at $3,701,725. 18.61% of the stock is owned by company insiders.

Cricut Stock Up 3.0%

Shares of Cricut stock traded up $0.16 on Friday, reaching $5.44. The company's stock had a trading volume of 643,642 shares, compared to its average volume of 439,861. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.55 and a beta of 0.16. The firm's fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $5.67. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Cricut had a return on equity of 14.27% and a net margin of 9.48%. The business had revenue of $162.63 million during the quarter, compared to analyst estimates of $158.55 million. As a group, research analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

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

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.