Geode Capital Management LLC Raises Stock Position in Cricut, Inc. (NASDAQ:CRCT)

Geode Capital Management LLC boosted its stake in Cricut, Inc. (NASDAQ:CRCT) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 1,081,319 shares of the company’s stock after acquiring an additional 9,940 shares during the period. Geode Capital Management LLC’s holdings in Cricut were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Burns Matteson Capital Management LLC bought a new stake in shares of Cricut in the third quarter worth $70,000. CWM LLC boosted its position in Cricut by 23.9% in the third quarter. CWM LLC now owns 12,026 shares of the company’s stock worth $83,000 after purchasing an additional 2,322 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after purchasing an additional 2,103 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Cricut during the 3rd quarter valued at about $93,000. Finally, SG Americas Securities LLC bought a new position in shares of Cricut in the 3rd quarter worth approximately $118,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the sale, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at $3,273,106.59. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $6.31, for a total transaction of $134,087.50. Following the sale, the chief executive officer now owns 3,823,340 shares in the company, valued at approximately $24,125,275.40. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,549 shares of company stock worth $1,199,555. 18.02% of the stock is owned by corporate insiders.

Cricut Stock Down 0.7 %

Shares of CRCT opened at $5.66 on Friday. The business has a 50-day simple moving average of $5.79 and a two-hundred day simple moving average of $6.00. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 20.21 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The firm had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s payout ratio is 71.43%.

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.