Cricut (NASDAQ:CRCT) Insider Ryan Harmer Sells 10,000 Shares

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 10,000 shares of the company’s stock in a transaction on 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 owned 314,428 shares of the company’s stock, valued at $1,792,239.60. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $4.12, for a total transaction of $71,140.04.

Cricut Trading Down 1.0%

Shares of CRCT opened at $5.81 on Thursday. The firm has a market cap of $1.22 billion, a PE ratio of 13.51 and a beta of 0.19. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93. The stock has a fifty day moving average price of $4.91 and a 200-day moving average price of $4.49.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The business had revenue of $156.28 million for the quarter, compared to analyst estimates of $159.95 million. As a group, research analysts forecast that Cricut, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings raised Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. The Goldman Sachs Group assumed coverage on shares of Cricut in a research report on Wednesday, August 19th. They set a “sell” rating and a $4.50 price objective for the company. Zacks Research raised shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.70 target price on shares of Cricut in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.07.

Institutional Investors Weigh In On Cricut

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its holdings in Cricut by 255.9% during 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 during the period. Caitong International Asset Management Co. Ltd increased its stake in Cricut by 57,811.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after buying an additional 5,203 shares during the period. Royal Bank of Canada lifted its holdings in Cricut by 265.0% during the 1st quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after buying an additional 5,928 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in Cricut during the 4th quarter worth approximately $55,000. Finally, Orion Porfolio Solutions LLC purchased a new position in Cricut in the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

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.