Cricut (NASDAQ:CRCT) Trading Down 2% – Time to Sell?

Cricut, Inc. (NASDAQ:CRCT)’s share price traded down 2% on Monday . The company traded as low as $4.35 and last traded at $4.37. Approximately 379,900 shares traded hands during trading, a decline of 15% from the average session volume of 447,056 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. UBS Group reaffirmed a “cautious” rating on shares of Cricut in a research report on Wednesday, March 4th. The Goldman Sachs Group reissued a “sell” rating and set a $3.75 price target on shares of Cricut in a report on Wednesday, May 6th. Finally, Barclays restated an “underweight” rating and set a $4.00 price target on shares of Cricut in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Cricut has a consensus rating of “Strong Sell” and a consensus target price of $3.88.

Cricut Stock Performance

The firm has a market capitalization of $927.75 million, a P/E ratio of 12.63 and a beta of 0.22. The business has a fifty day moving average of $4.28 and a 200-day moving average of $4.44.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $159.47 million for the quarter, compared to the consensus estimate of $164.33 million. Cricut had a return on equity of 21.37% and a net margin of 10.36%. On average, equities research analysts forecast that Cricut, Inc. will post 0.14 earnings per share for the current fiscal year.

Cricut Dividend Announcement

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

Insider Buying and Selling

In related news, Director Jason Makler acquired 9,691 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $4.34 per share, for a total transaction of $42,058.94. Following the acquisition, the director owned 29,690 shares in the company, valued at approximately $128,854.60. This represents a 48.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.95, for a total transaction of $237,000.00. Following the completion of the sale, the chief executive officer directly owned 4,461,592 shares of the company’s stock, valued at $17,623,288.40. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 93,633 shares of company stock valued at $378,514. 18.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cricut

A number of large investors have recently bought and sold shares of CRCT. First Trust Advisors LP grew its stake 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 worth $1,045,000 after acquiring an additional 1,977 shares during the last quarter. Royce & Associates LP boosted its position 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 in the last quarter. Deutsche Bank AG boosted its holdings in Cricut by 6.0% during the fourth quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock valued at $208,000 after purchasing an additional 2,374 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after purchasing an additional 2,620 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Cricut by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after purchasing an additional 3,566 shares during the period. 19.60% of the stock is currently owned by institutional investors.

About Cricut

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.