Key Points
- Insider sale: Cricut insider Ryan Harmer sold 17,267 shares on May 28 at an average price of $4.12, worth about $71,140. After the transaction, he still held 325,579 shares, a 5.04% reduction in his position.
- Quarterly results: Cricut reported Q1 earnings of $0.10 per share, beating analyst expectations of $0.05. Revenue came in at $159.47 million, slightly below the $164.33 million estimate.
- Dividend and outlook: The company declared a $0.10 per-share dividend payable July 21, with an ex-dividend date of July 7. Analysts remain cautious overall, with a consensus rating of Strong Sell and a target price of $3.88.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) insider Ryan Harmer sold 17,267 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.12, for a total value of $71,140.04. Following the sale, the insider owned 325,579 shares in the company, valued at $1,341,385.48. The trade was a 5.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Cricut Stock Performance
Shares of CRCT stock opened at $4.39 on Tuesday. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $7.33. The firm has a market capitalization of $921.46 million, a price-to-earnings ratio of 12.54 and a beta of 0.22. The stock's 50-day simple moving average is $4.18 and its 200-day simple moving average is $4.48.
Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Cricut had a return on equity of 21.37% and a net margin of 10.36%.The business had revenue of $159.47 million for the quarter, compared to analyst estimates of $164.33 million. As a group, equities analysts forecast that Cricut, Inc. will post 0.14 earnings per share for the current year.
Cricut Announces Dividend
The firm also recently declared a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 7th. This represents a dividend yield of 474.0%. Cricut's payout ratio is presently 57.14%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Cricut by 3.6% in the third quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company's stock valued at $29,751,000 after acquiring an additional 163,602 shares during the period. Geode Capital Management LLC lifted its holdings in Cricut by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,417,153 shares of the company's stock valued at $7,016,000 after acquiring an additional 31,736 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Cricut by 51.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company's stock valued at $8,675,000 after acquiring an additional 467,934 shares during the period. State Street Corp lifted its holdings in Cricut by 0.9% in the fourth quarter. State Street Corp now owns 1,220,292 shares of the company's stock valued at $6,040,000 after acquiring an additional 11,170 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Cricut by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company's stock valued at $3,687,000 after acquiring an additional 229,663 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group restated a "sell" rating and set a $3.75 price target on shares of Cricut in a research note on Wednesday, May 6th. Barclays reiterated an "underweight" rating and issued a $4.00 target price on shares of Cricut in a research report on Wednesday, March 4th. UBS Group reiterated a "cautious" rating on shares of Cricut in a research report on Wednesday, March 4th. Finally, Weiss Ratings lowered Cricut from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Sell" and a consensus target price of $3.88.
Get Our Latest Analysis on Cricut
Cricut Company Profile
(
Get Free Report)
Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.
Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.
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