Fmr LLC Raises Holdings in Cricut, Inc. (NASDAQ:CRCT)

Fmr LLC raised its stake in Cricut, Inc. (NASDAQ:CRCT) by 779.4% during the third quarter, Holdings Channel.com reports. The firm owned 19,840 shares of the company’s stock after purchasing an additional 17,584 shares during the quarter. Fmr LLC’s holdings in Cricut were worth $137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRCT. AQR Capital Management LLC lifted its stake in Cricut by 3.1% during the second quarter. AQR Capital Management LLC now owns 765,474 shares of the company’s stock worth $4,585,000 after purchasing an additional 23,345 shares during the last quarter. American Century Companies Inc. raised its holdings in Cricut by 42.7% during the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock worth $2,714,000 after purchasing an additional 135,539 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Cricut by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 386,100 shares of the company’s stock worth $2,313,000 after buying an additional 17,958 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Cricut by 7.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 268,926 shares of the company’s stock worth $1,611,000 after buying an additional 17,898 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cricut by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,099 shares of the company’s stock valued at $1,288,000 after buying an additional 18,939 shares in the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Cricut Price Performance

NASDAQ CRCT opened at $5.93 on Monday. The business has a 50 day moving average price of $5.94 and a 200 day moving average price of $6.06. The company has a market capitalization of $1.27 billion, a P/E ratio of 21.18 and a beta of 0.03. Cricut, Inc. has a 1-year low of $4.43 and a 1-year high of $8.40.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same period last year, the firm earned $0.08 earnings per share. On average, research analysts expect 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 issued 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%.

Insider Buying and Selling

In other Cricut news, EVP Donald B. Olsen sold 30,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the transaction, the executive vice president now owns 625,833 shares in the company, valued at $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $6.00, for a total transaction of $127,500.00. Following the sale, the chief executive officer now owns 3,844,590 shares in the company, valued at $23,067,540. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,549 shares of company stock valued at $1,199,555. 18.02% of the stock is currently owned by company insiders.

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.