Ryan Harmer Sells 17,267 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 17,267 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.12, for a total value of $71,140.04. Following the completion of the sale, the insider directly owned 325,579 shares of the company’s stock, valued at approximately $1,341,385.48. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Cricut Stock Down 5.5%

NASDAQ:CRCT opened at $4.15 on Wednesday. The firm’s fifty day simple moving average is $4.18 and its 200-day simple moving average is $4.48. The stock has a market cap of $871.09 million, a PE ratio of 11.86 and a beta of 0.22. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $7.33.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Cricut had a net margin of 10.36% and a return on equity of 21.37%. The firm had revenue of $159.47 million during the quarter, compared to analysts’ expectations of $164.33 million. Equities analysts anticipate that Cricut, Inc. will post 0.14 earnings per share for the current year.

Cricut Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share. This represents a dividend yield of 474.0%. The ex-dividend date is Tuesday, July 7th. Cricut’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its position in shares of Cricut by 1.3% in the second quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after purchasing an additional 1,977 shares during the period. Royce & Associates LP increased its stake in shares of Cricut by 8.2% during the 3rd quarter. Royce & Associates LP now owns 28,583 shares of the company’s stock valued at $180,000 after acquiring an additional 2,176 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Cricut by 6.0% during the 4th quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock worth $208,000 after acquiring an additional 2,374 shares during the period. Osaic Holdings Inc. boosted its position in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after acquiring an additional 2,620 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Cricut by 6.0% in the third quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock worth $395,000 after acquiring an additional 3,566 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRCT has been the subject of several research analyst reports. Weiss Ratings downgraded Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Barclays reiterated an “underweight” rating and set a $4.00 target price on shares of Cricut in a research report on Wednesday, March 4th. UBS Group reissued a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $3.75 price target on shares of Cricut in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Cricut presently has an average rating of “Strong Sell” and an average price target of $3.88.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.