Matt Tuttle Sells 40,491 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Key Points

• Cricut, Inc.'s General Counsel, Matt Tuttle, sold 40,491 shares of stock at an average price of $5.69, decreasing his ownership by approximately 10.95%.
• Cricut reported $0.11 earnings per share for the quarter, exceeding estimates of $0.06 and achieving revenues of $172.11 million compared to the expected $158.59 million.
• Analyst ratings for Cricut vary, with Wall Street Zen upgrading the stock to a "buy" while Citigroup maintains a "sell" rating with a price target lowered to $4.00.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) General Counsel Matt Tuttle sold 40,491 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $5.69, for a total value of $230,393.79. Following the completion of the sale, the general counsel owned 329,164 shares of the company's stock, valued at approximately $1,872,943.16. This represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cricut Stock Down 2.5%

Shares of CRCT stock traded down $0.14 during trading hours on Friday, hitting $5.52. 1,191,278 shares of the company's stock were exchanged, compared to its average volume of 701,550. The firm has a 50 day moving average of $5.91 and a two-hundred day moving average of $5.61. The firm has a market cap of $1.17 billion, a P/E ratio of 16.73 and a beta of 0.15. Cricut, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $7.33.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings results 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. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. On average, equities analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Cricut from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Institutional Trading of Cricut

Several hedge funds have recently made changes to their positions in CRCT. American Century Companies Inc. lifted its holdings in Cricut by 11.5% during the second quarter. American Century Companies Inc. now owns 1,544,659 shares of the company's stock worth $10,457,000 after buying an additional 159,339 shares during the period. Geode Capital Management LLC grew its position in shares of Cricut by 7.0% in the second quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company's stock valued at $9,449,000 after purchasing an additional 91,339 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cricut by 20.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock valued at $6,169,000 after purchasing an additional 157,448 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Cricut by 9.9% in the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after acquiring an additional 55,011 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Cricut by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company's stock worth $2,502,000 after purchasing an additional 9,300 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors.

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.