Cricut (NASDAQ:CRCT) Shares Down 7%

Cricut, Inc. (NASDAQ:CRCT) dropped 7% during mid-day trading on Monday . The stock traded as low as $5.57 and last traded at $5.57. Approximately 466,180 shares were traded during trading, a decline of 46% from the average daily volume of 864,920 shares. The stock had previously closed at $5.99.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRCT. Barclays decreased their price objective on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group cut their price objective on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Citigroup decreased their target price on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th.

Cricut Stock Up 4.3 %

The company has a market capitalization of $1.22 billion, a PE ratio of 19.72 and a beta of 0.10. The business has a 50 day simple moving average of $6.32 and a 200 day simple moving average of $5.76.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $167.39 million during the quarter, compared to analyst estimates of $174.20 million. Cricut had a net margin of 8.54% and a return on equity of 12.25%. Equities analysts expect that Cricut, Inc. will post 0.24 EPS for the current fiscal year.

Cricut Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, July 19th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a dividend yield of 1.3%.

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 11,045 shares of Cricut stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.48, for a total transaction of $82,616.60. Following the completion of the sale, the executive vice president now owns 562,873 shares of the company’s stock, valued at approximately $4,210,290.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Donald B. Olsen sold 11,045 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $7.48, for a total transaction of $82,616.60. Following the completion of the transaction, the executive vice president now owns 562,873 shares of the company’s stock, valued at $4,210,290.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Arora Ashish sold 129,186 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.11, for a total transaction of $918,512.46. Following the transaction, the chief executive officer now owns 2,090,420 shares of the company’s stock, valued at $14,862,886.20. The disclosure for this sale can be found here. Insiders have sold a total of 298,847 shares of company stock valued at $2,130,703 in the last ninety days. Company insiders own 18.02% of the company’s stock.

Institutional Trading of Cricut

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in Cricut by 9,096.7% in the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after acquiring an additional 13,645 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Cricut during the 1st quarter worth about $78,000. Simplicity Wealth LLC acquired a new stake in Cricut in the 1st quarter worth about $78,000. Price T Rowe Associates Inc. MD increased its stake in Cricut by 40.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,008 shares of the company’s stock worth $134,000 after buying an additional 8,077 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Cricut during the first quarter valued at approximately $147,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

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.