Shares of Cricut, Inc. (NASDAQ:CRCT – Get Free Report) have earned a consensus rating of “Reduce” from the six analysts that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.0667.
Several brokerages recently commented on CRCT. The Goldman Sachs Group assumed coverage on Cricut in a research report on Wednesday, August 19th. They set a “sell” rating and a $4.50 target price on the stock. Morgan Stanley reissued an “underweight” rating and issued a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Cricut from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th.
Check Out Our Latest Stock Report on CRCT
Cricut Stock Performance
Cricut (NASDAQ:CRCT – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $156.28 million for the quarter, compared to analyst estimates of $159.95 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%. Analysts forecast that Cricut will post 0.32 earnings per share for the current year.
Insider Buying and Selling at Cricut
In other Cricut news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.48, for a total transaction of $328,800.00. Following the transaction, the chief executive officer owned 4,027,105 shares of the company’s stock, valued at $22,068,535.40. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan Harmer sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.70, for a total transaction of $57,000.00. Following the completion of the transaction, the insider owned 314,428 shares in the company, valued at approximately $1,792,239.60. The trade was a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 250,000 shares of company stock worth $1,366,800. Corporate insiders own 16.48% of the company’s stock.
Institutional Trading of Cricut
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its holdings in shares of Cricut by 255.9% in the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after acquiring an additional 2,620 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Cricut by 57,811.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after purchasing an additional 5,203 shares in the last quarter. Royal Bank of Canada raised 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 purchasing an additional 5,928 shares in the last quarter. Guggenheim Capital LLC bought a new stake in Cricut during the fourth quarter valued at approximately $55,000. Finally, Orion Porfolio Solutions LLC bought a new position in shares of Cricut in the 4th quarter worth $63,000. 19.60% of the stock is currently owned by institutional investors.
About Cricut
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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