Cricut (NASDAQ:CRCT) Stock Price Up 4.8%

Cricut, Inc. (NASDAQ:CRCT) shares rose 4.8% during trading on Thursday . The company traded as high as $5.28 and last traded at $5.23. Approximately 312,489 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 872,754 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRCT shares. Citigroup lowered their price target on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group reduced their price target on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Barclays lowered their price objective on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, March 7th.

Cricut Stock Performance

The company has a market cap of $1.14 billion, a P/E ratio of 21.96 and a beta of 0.11. The business has a 50 day moving average price of $4.96 and a two-hundred day moving average price of $6.33.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a net margin of 7.01% and a return on equity of 9.59%. The company had revenue of $231.25 million during the quarter, compared to the consensus estimate of $252.67 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was down 17.6% compared to the same quarter last year. As a group, research analysts expect that Cricut, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at Cricut

In other Cricut news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total value of $4,830,000.00. Following the transaction, the insider now owns 5,273,978 shares in the company, valued at $25,473,313.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cricut

A number of large investors have recently made changes to their positions in the business. Strs Ohio lifted its stake in Cricut by 23.4% in the third quarter. Strs Ohio now owns 32,200 shares of the company’s stock worth $299,000 after acquiring an additional 6,100 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Cricut in the 3rd quarter worth about $72,000. Vanguard Group Inc. boosted its stake in shares of Cricut by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock valued at $29,735,000 after purchasing an additional 133,624 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cricut by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 189,053 shares of the company’s stock valued at $1,756,000 after buying an additional 3,900 shares during the period. Finally, Barclays PLC bought a new position in Cricut in the second quarter worth about $183,000. 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.