Tudor Investment Corp ET AL Grows Stock Position in Cricut, Inc. $CRCT

Key Points

• Tudor Investment Corp ET AL boosted its stake in Cricut (NASDAQ:CRCT) by 824% in Q3 to 358,213 shares, valued at about $2.25 million (roughly 0.17% of the company).
• Analysts are broadly negative — one Hold and four Sell ratings leave an average consensus of “Strong Sell” with an average price target of $3.67.
• CEO Arora sold 60,000 shares at $4.28 and insiders sold a total of 193,458 shares in the last 90 days, though insiders still own 18.61% of the company.

Tudor Investment Corp ET AL raised its stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) by 824.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 358,213 shares of the company's stock after buying an additional 319,447 shares during the period. Tudor Investment Corp ET AL owned about 0.17% of Cricut worth $2,253,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CRCT. Segall Bryant & Hamill LLC acquired a new stake in shares of Cricut during the 3rd quarter valued at about $1,324,000. Picton Mahoney Asset Management acquired a new stake in shares of Cricut during the 3rd quarter valued at about $551,000. Principal Financial Group Inc. acquired a new stake in shares of Cricut during the 3rd quarter valued at about $414,000. RFG Advisory LLC acquired a new stake in shares of Cricut during the 3rd quarter valued at about $75,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Cricut during the 3rd quarter valued at about $434,000. Hedge funds and other institutional investors own 19.60% of the company's stock.

Analyst Ratings Changes

CRCT has been the topic of a number of analyst reports. Weiss Ratings upgraded Cricut from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, March 5th. The Goldman Sachs Group dropped their target price on Cricut from $3.50 to $3.00 and set a "sell" rating on the stock in a research report on Wednesday, January 14th. UBS Group reiterated a "cautious" rating on shares of Cricut in a report on Wednesday, March 4th. Finally, Barclays reiterated an "underweight" rating and issued a $4.00 price objective on shares of Cricut in a report on Wednesday, March 4th. One analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Sell" and an average price target of $3.67.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $4.28, for a total transaction of $256,800.00. Following the transaction, the chief executive officer directly owned 3,738,453 shares in the company, valued at $16,000,578.84. The trade was a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 193,458 shares of company stock worth $858,197. Insiders own 18.61% of the company's stock.

Cricut Trading Up 1.0%

CRCT stock opened at $4.18 on Friday. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $7.33. The stock has a market cap of $885.24 million, a price-to-earnings ratio of 11.61 and a beta of 0.23. The business's 50-day moving average is $4.26 and its 200 day moving average is $4.77.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Cricut had a return on equity of 20.44% and a net margin of 10.82%.The company had revenue of $203.60 million for the quarter, compared to analysts' expectations of $202.22 million. As a group, equities analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

About Cricut

Cricut, Inc NASDAQ: CRCT is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.

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