Cricut (NASDAQ:CRCT) Trading Down 7%

Shares of Cricut, Inc. (NASDAQ:CRCT) were down 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 mid-day 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

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

Cricut Price Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 19.21 and a beta of 0.10. The firm has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $5.78.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company 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%. Research analysts predict that Cricut, Inc. will post 0.24 EPS for the current year.

Cricut Announces Dividend

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

Insider Activity at Cricut

In other news, CEO Arora Ashish sold 129,186 shares of Cricut stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $7.11, for a total value of $918,512.46. Following the sale, the chief executive officer now directly owns 2,090,420 shares of the company’s stock, valued at $14,862,886.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cricut news, EVP Donald B. Olsen sold 11,045 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $7.48, for a total transaction of $82,616.60. Following the transaction, the executive vice president now owns 562,873 shares of the company’s stock, valued at $4,210,290.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arora Ashish sold 129,186 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.11, for a total value of $918,512.46. Following the completion of the sale, the chief executive officer now directly 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. In the last three months, insiders have sold 298,847 shares of company stock valued at $2,130,703. 18.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cricut

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Cricut by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock valued at $29,735,000 after purchasing an additional 133,624 shares during the last quarter. Strs Ohio boosted its stake in Cricut by 139.1% during the fourth quarter. Strs Ohio now owns 77,000 shares of the company’s stock worth $507,000 after buying an additional 44,800 shares during the period. Swiss National Bank lifted its holdings in shares of Cricut by 9.2% in the 4th quarter. Swiss National Bank now owns 67,900 shares of the company’s stock worth $447,000 after acquiring an additional 5,700 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cricut during the 4th quarter worth approximately $411,000. Finally, Oxford Asset Management LLP acquired a new stake in Cricut in the 4th quarter valued at approximately $181,000. 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.