Cricut (NASDAQ:CRCT) Issues Earnings Results

Cricut (NASDAQ:CRCT) announced its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02), Zacks reports. The firm had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 9.16% and a return on equity of 13.18%. During the same quarter in the prior year, the business earned $0.08 earnings per share.

Cricut Trading Up 2.7 %

Shares of NASDAQ:CRCT traded up $0.15 during mid-day trading on Thursday, reaching $5.72. The stock had a trading volume of 32,955 shares, compared to its average volume of 697,103. The firm has a 50 day simple moving average of $6.36 and a two-hundred day simple moving average of $6.20. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The firm has a market cap of $1.24 billion, a PE ratio of 19.96 and a beta of 0.13.

Cricut Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio is 71.43%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday.

Insider Buying and Selling

In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arora Ashish sold 38,495 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $5.94, for a total value of $228,660.30. Following the sale, the chief executive officer now directly owns 2,505,840 shares of the company’s stock, valued at approximately $14,884,689.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 267,112 shares of company stock valued at $1,599,515. 18.02% of the stock is owned by corporate insiders.

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.