Cricut (NASDAQ:CRCT) Trading Down 7.5%

Cricut, Inc. (NASDAQ:CRCT)’s stock price was down 7.5% during trading on Tuesday . The company traded as low as $6.39 and last traded at $6.41. Approximately 211,037 shares traded hands during trading, a decline of 72% from the average daily volume of 754,929 shares. The stock had previously closed at $6.93.

Cricut Stock Performance

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 22.38 and a beta of 0.10. The firm’s 50-day moving average price is $6.08 and its two-hundred day moving average price is $5.92.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Cricut had a return on equity of 13.18% and a net margin of 9.16%. The company had revenue of $167.95 million for the quarter, compared to the consensus estimate of $175.68 million. During the same period in the previous year, the business earned $0.07 earnings per share. As a group, equities research analysts anticipate that Cricut, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at Cricut

In other Cricut news, CEO Arora Ashish sold 53,301 shares of Cricut stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.79, for a total transaction of $308,612.79. Following the completion of the transaction, the chief executive officer now directly owns 2,637,243 shares of the company’s stock, valued at $15,269,636.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Donald B. Olsen sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arora Ashish sold 53,301 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.79, for a total value of $308,612.79. Following the completion of the transaction, the chief executive officer now directly owns 2,637,243 shares in the company, valued at approximately $15,269,636.97. The disclosure for this sale can be found here. Insiders have sold 267,112 shares of company stock worth $1,599,515 over the last three months. Company insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRCT. American Century Companies Inc. increased its position in Cricut by 42.7% in the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after acquiring an additional 135,539 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. Swiss National Bank raised its position in Cricut by 9.2% in the 4th quarter. Swiss National Bank now owns 67,900 shares of the company’s stock worth $447,000 after purchasing an additional 5,700 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cricut by 252,185.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock worth $106,000 after buying an additional 17,653 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Cricut during the 1st quarter worth $758,000. 19.60% of the stock is 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.