Teacher Retirement System of Texas Makes New $1.03 Million Investment in Cricut, Inc. (NASDAQ:CRCT)

Teacher Retirement System of Texas purchased a new stake in shares of Cricut, Inc. (NASDAQ:CRCT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 180,479 shares of the company’s stock, valued at approximately $1,029,000.

A number of other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in Cricut by 366.6% during the third quarter. Barclays PLC now owns 76,440 shares of the company’s stock worth $529,000 after purchasing an additional 60,058 shares during the period. Geode Capital Management LLC raised its position in shares of Cricut by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock valued at $7,495,000 after buying an additional 9,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $607,000 after acquiring an additional 5,613 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cricut by 296.2% in the third quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock worth $1,283,000 after acquiring an additional 138,385 shares during the period. Finally, SG Americas Securities LLC increased its stake in Cricut by 26.3% during the fourth quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock worth $123,000 after acquiring an additional 4,484 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

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

Cricut Price Performance

Shares of CRCT opened at $5.16 on Friday. The firm has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $5.86. The stock has a market cap of $1.10 billion, a PE ratio of 18.43 and a beta of -0.02. Cricut, Inc. has a 1-year low of $4.66 and a 1-year high of $8.40.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share 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 net margin of 8.47% and a return on equity of 12.36%. As a group, sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut 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.