Cricut (NASDAQ:CRCT) Sees Large Volume Increase

Shares of Cricut, Inc. (NASDAQ:CRCT) saw an uptick in trading volume on Monday . 289,923 shares were traded during trading, an increase of 25% from the previous session’s volume of 231,409 shares.The stock last traded at $7.55 and had previously closed at $7.51.

Analyst Ratings Changes

A number of research analysts have issued reports on CRCT shares. Morgan Stanley cut their target price on shares of Cricut from $5.00 to $4.60 and set an “underweight” rating on the stock in a research report on Wednesday, November 8th. Citigroup started coverage on shares of Cricut in a report on Monday, August 28th. They issued a “neutral” rating and a $10.50 price objective on the stock.

Cricut Stock Down 1.7 %

The business has a fifty day moving average of $8.56 and a 200 day moving average of $10.34. The firm has a market cap of $1.62 billion, a P/E ratio of 31.29 and a beta of 0.39.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $174.91 million for the quarter, compared to the consensus estimate of $191.00 million. Cricut had a return on equity of 8.96% and a net margin of 6.54%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. On average, sell-side analysts expect that Cricut, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Cricut news, insider Ryan Harmer sold 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $8.00, for a total value of $80,000.00. Following the completion of the sale, the insider now directly owns 231,126 shares in the company, valued at $1,849,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cricut news, major shareholder Abdiel Capital Management, Llc sold 1,300,000 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $8.70, for a total value of $11,310,000.00. Following the sale, the insider now owns 13,586,303 shares in the company, valued at approximately $118,200,836.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Harmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the transaction, the insider now directly owns 231,126 shares of the company’s stock, valued at $1,849,008. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,330,000 shares of company stock valued at $11,580,200. 18.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY acquired a new position in shares of Cricut during the 2nd quarter worth about $32,000. Royal Bank of Canada grew its stake in Cricut by 154.0% in the second quarter. Royal Bank of Canada now owns 3,183 shares of the company’s stock valued at $39,000 after purchasing an additional 1,930 shares in the last quarter. UBS Group AG boosted its holdings in shares of Cricut by 203.0% in the 3rd quarter. UBS Group AG now owns 3,436 shares of the company’s stock valued at $32,000 after buying an additional 2,302 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Cricut during the second quarter worth $48,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Cricut in the third quarter valued at $46,000. Institutional investors own 19.60% of the company’s stock.

About Cricut

Cricut, Inc engages in the design and marketing of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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.