Two Sigma Investments LP Cuts Holdings in Cricut, Inc. (NASDAQ:CRCT)

Two Sigma Investments LP cut its stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) by 29.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,456 shares of the company's stock after selling 99,673 shares during the period. Two Sigma Investments LP owned approximately 0.11% of Cricut worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CRCT. R Squared Ltd acquired a new stake in shares of Cricut during the fourth quarter worth about $36,000. Olympiad Research LP purchased a new stake in shares of Cricut during the 4th quarter worth approximately $67,000. Caisse Des Depots ET Consignations purchased a new position in shares of Cricut during the fourth quarter worth about $72,000. ProShare Advisors LLC purchased a new position in shares of Cricut during the fourth quarter worth approximately $75,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Cricut in the fourth quarter valued at about $84,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $6.33, for a total transaction of $379,800.00. Following the sale, the chief executive officer now owns 3,111,931 shares in the company, valued at $19,698,523.23. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 425,009 shares of company stock worth $2,573,894. 18.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRCT has been the subject of a number of recent analyst reports. Citigroup restated a "sell" rating and issued a $4.00 price objective (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research report on Thursday, March 6th.

Cricut Stock Performance

CRCT stock traded down $0.06 during trading on Friday, reaching $6.42. 410,756 shares of the company were exchanged, compared to its average volume of 441,830. The company has a market cap of $1.36 billion, a P/E ratio of 22.93 and a beta of 0.12. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.17. The stock's 50 day moving average price is $5.40 and its 200 day moving average price is $5.54.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The business 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%. As a group, equities research analysts forecast that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

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