Cricut (NASDAQ:CRCT) Shares Gap Up – Still a Buy?

Cricut, Inc. (NASDAQ:CRCT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.10, but opened at $5.24. Cricut shares last traded at $5.24, with a volume of 398 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price objective on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th.

Cricut Stock Down 0.2 %

The firm has a market cap of $1.11 billion, a PE ratio of 18.43 and a beta of 0.13. The firm’s 50 day moving average is $6.22 and its 200-day moving average is $6.15.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same period in the prior year, the business earned $0.08 EPS. On average, analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The business also recently declared a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.50 per share. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio is currently 71.43%.

Insiders Place Their Bets

In other news, 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 $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arora Ashish sold 54,839 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.29, for a total transaction of $290,098.31. Following the completion of the sale, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at $21,055,755.26. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. 18.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cricut

Large investors have recently made changes to their positions in the business. CWM LLC increased its position in shares of Cricut by 150.8% in the second quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after acquiring an additional 5,835 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Cricut in the third quarter worth $70,000. Arizona State Retirement System increased its position in shares of Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after acquiring an additional 2,103 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Cricut in the third quarter worth $93,000. Finally, Lazard Asset Management LLC grew its holdings in Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. 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.