Intech Investment Management LLC Takes Position in Cricut, Inc. (NASDAQ:CRCT)

Intech Investment Management LLC bought a new stake in Cricut, Inc. (NASDAQ:CRCT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,969 shares of the company’s stock, valued at approximately $120,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Cricut in the 4th quarter valued at approximately $36,000. Copeland Capital Management LLC acquired a new stake in Cricut in the 4th quarter valued at $63,000. Drive Wealth Management LLC bought a new stake in Cricut in the fourth quarter valued at $64,000. Olympiad Research LP bought a new stake in Cricut in the fourth quarter valued at $67,000. Finally, Quantbot Technologies LP acquired a new position in Cricut during the third quarter worth $93,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Trading Down 0.4 %

NASDAQ:CRCT opened at $5.22 on Friday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 18.64 and a beta of -0.02. Cricut, Inc. has a 1 year low of $4.66 and a 1 year high of $8.40. The firm has a 50 day moving average of $5.57 and a 200-day moving average of $5.86.

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

Insider Activity at Cricut

In other Cricut news, CEO Arora Ashish sold 5,283 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $5.25, for a total value of $27,735.75. Following the completion of the sale, the chief executive officer now owns 4,059,329 shares in the company, valued at approximately $21,311,477.25. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 312,509 shares of company stock valued at $1,765,519 over the last ninety days. 18.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered their target price on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a report 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.