PDT Partners LLC Boosts Stake in Cricut, Inc. (NASDAQ:CRCT)

PDT Partners LLC grew its stake in shares of Cricut, Inc. (NASDAQ:CRCT) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,137 shares of the company’s stock after buying an additional 8,022 shares during the period. PDT Partners LLC owned 0.06% of Cricut worth $881,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CRCT. Arizona State Retirement System increased its position in Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after purchasing an additional 2,103 shares in the last quarter. CWM LLC boosted its stake in shares of Cricut by 23.9% during the 3rd quarter. CWM LLC now owns 12,026 shares of the company’s stock worth $83,000 after purchasing an additional 2,322 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cricut by 9.8% during the second quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after buying an additional 3,034 shares in the last quarter. Rhumbline Advisers raised its position in shares of Cricut by 5.8% in the second quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock valued at $372,000 after buying an additional 3,397 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cricut by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock valued at $607,000 after buying an additional 5,613 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 54,839 shares of Cricut stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.29, for a total transaction of $290,098.31. Following the transaction, the chief executive officer now owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.23, for a total value of $156,900.00. Following the completion of the sale, the executive vice president now owns 625,833 shares of the company’s stock, valued at approximately $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is owned by insiders.

Cricut Trading Up 5.6 %

Shares of NASDAQ:CRCT opened at $5.48 on Tuesday. Cricut, Inc. has a 12-month low of $4.43 and a 12-month high of $8.40. The stock’s 50-day moving average price is $6.14 and its two-hundred day moving average price is $6.11. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 19.57 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) 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 analysts’ expectations of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, research analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Dividend Announcement

The company also recently announced a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a $0.50 dividend. This represents a dividend yield of 3.4%. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio (DPR) is currently 71.43%.

Analyst Upgrades and Downgrades

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

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.