Bank of New York Mellon Corp Has $2.72 Million Stock Position in Cricut, Inc. (NASDAQ:CRCT)

Bank of New York Mellon Corp increased its holdings in Cricut, Inc. (NASDAQ:CRCT) by 175.0% during the fourth quarter, HoldingsChannel reports. The fund owned 476,540 shares of the company’s stock after acquiring an additional 303,236 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cricut were worth $2,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in Cricut in the third quarter worth $93,000. FMR LLC boosted its position in Cricut by 779.4% during the third quarter. FMR LLC now owns 19,840 shares of the company’s stock worth $137,000 after purchasing an additional 17,584 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cricut by 6.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock worth $607,000 after acquiring an additional 5,613 shares during the period. Martingale Asset Management L P grew its holdings in Cricut by 258.6% during the 3rd quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock valued at $872,000 after buying an additional 90,757 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Cricut during the third quarter valued at approximately $229,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Cricut Price Performance

CRCT stock opened at $5.39 on Friday. Cricut, Inc. has a one year low of $4.55 and a one year high of $8.40. The stock has a market cap of $1.15 billion, a PE ratio of 19.25 and a beta of -0.02. The firm has a 50 day simple moving average of $5.62 and a two-hundred day simple moving average of $5.88.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The firm had revenue of $209.31 million during the quarter, compared to analyst estimates of $214.41 million. On average, research analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity

In related news, CEO Arora Ashish sold 21,250 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $5.63, for a total transaction of $119,637.50. Following the completion of the sale, the chief executive officer now directly owns 3,717,090 shares in the company, valued at $20,927,216.70. This represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 306,516 shares of company stock valued at $1,734,055. Corporate insiders own 18.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley dropped their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a research note on Thursday, March 6th.

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.