Key Points
- Cricut insider Ryan Harmer sold 10,000 shares at an average price of $5.70, generating $57,000. Following the transaction, he retained 314,428 shares, a 3.08% reduction in his stake.
- Cricut reported quarterly EPS of $0.19, beating the $0.06 consensus estimate, while revenue of $156.28 million fell short of the $159.95 million forecast.
- Analyst sentiment remains cautious: Cricut has an average “Reduce” rating and a consensus price target of $4.07, below its reported opening price of $5.81.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) insider Ryan Harmer sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $5.70, for a total value of $57,000.00. Following the sale, the insider directly owned 314,428 shares in the company, valued at $1,792,239.60. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Ryan Harmer also recently made the following trade(s):
- On Thursday, May 28th, Ryan Harmer sold 17,267 shares of Cricut stock. The stock was sold at an average price of $4.12, for a total value of $71,140.04.
Cricut Stock Down 1.0%
NASDAQ:CRCT opened at $5.81 on Thursday. The company has a market capitalization of $1.22 billion, a PE ratio of 13.51 and a beta of 0.19. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $6.93. The stock's 50 day moving average price is $4.91 and its 200 day moving average price is $4.49.
Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. Cricut had a return on equity of 24.57% and a net margin of 12.71%.The firm had revenue of $156.28 million during the quarter, compared to the consensus estimate of $159.95 million. As a group, sell-side analysts anticipate that Cricut, Inc. will post 0.32 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Cricut by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company's stock valued at $3,687,000 after purchasing an additional 229,663 shares during the period. Bank of America Corp DE increased its position in Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company's stock worth $437,000 after buying an additional 64,737 shares during the period. Royal Bank of Canada lifted its stake in Cricut by 265.0% in the first quarter. Royal Bank of Canada now owns 8,165 shares of the company's stock valued at $30,000 after buying an additional 5,928 shares during the last quarter. Empowered Funds LLC lifted its stake in Cricut by 18.1% in the first quarter. Empowered Funds LLC now owns 420,595 shares of the company's stock valued at $1,573,000 after buying an additional 64,362 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Cricut by 2.7% during the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company's stock valued at $3,288,000 after acquiring an additional 23,300 shares during the period. Hedge funds and other institutional investors own 19.60% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Weiss Ratings raised shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Morgan Stanley reaffirmed an "underweight" rating and issued a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. Zacks Research raised Cricut from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group started coverage on Cricut in a report on Wednesday, August 19th. They issued a "sell" rating and a $4.50 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $4.07.
Get Our Latest Analysis on CRCT
About Cricut
(
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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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