Cricut (NASDAQ:CRCT) Given New $3.80 Price Target at Morgan Stanley

Cricut (NASDAQ:CRCT) had its price target reduced by Morgan Stanley from $3.90 to $3.80 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

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

Cricut Price Performance

Shares of CRCT opened at $5.68 on Thursday. Cricut has a 1-year low of $4.45 and a 1-year high of $8.40. The company has a 50-day moving average of $5.68 and a 200 day moving average of $5.90. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 20.29 and a beta of -0.02.

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

Insider Activity

In other news, 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 value of $127,500.00. Following the transaction, the chief executive officer now owns 3,844,590 shares of the company’s stock, valued at $23,067,540. The trade was a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 373,210 shares of company stock worth $2,168,982. 18.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRCT. R Squared Ltd purchased a new position in shares of Cricut in the 4th quarter worth approximately $36,000. Copeland Capital Management LLC purchased a new position in shares of Cricut in the 4th quarter worth approximately $63,000. Drive Wealth Management LLC purchased a new position in shares of Cricut in the 4th quarter worth approximately $64,000. Olympiad Research LP purchased a new position in shares of Cricut in the 4th quarter worth approximately $67,000. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Cricut in the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.