Cricut, Inc. (NASDAQ:CRCT) Stock Position Trimmed by Abdiel Capital Advisors LP

Abdiel Capital Advisors LP lessened its stake in Cricut, Inc. (NASDAQ:CRCT) by 36.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,386,303 shares of the company’s stock after selling 5,500,000 shares during the period. Cricut makes up about 3.2% of Abdiel Capital Advisors LP’s holdings, making the stock its 8th biggest holding. Abdiel Capital Advisors LP owned 4.28% of Cricut worth $61,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CRCT. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cricut during the fourth quarter worth approximately $411,000. Quantbot Technologies LP purchased a new stake in Cricut during the third quarter valued at about $72,000. Vanguard Group Inc. increased its holdings in shares of Cricut by 4.4% in the third quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock worth $29,735,000 after buying an additional 133,624 shares during the period. Swiss National Bank boosted its holdings in Cricut by 9.2% during the 4th quarter. Swiss National Bank now owns 67,900 shares of the company’s stock valued at $447,000 after acquiring an additional 5,700 shares during the period. Finally, Strs Ohio increased its stake in Cricut by 139.1% in the 4th quarter. Strs Ohio now owns 77,000 shares of the company’s stock worth $507,000 after purchasing an additional 44,800 shares during the period. Institutional investors own 19.60% of the company’s stock.

Insider Transactions at Cricut

In other news, EVP Donald B. Olsen sold 11,045 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $7.48, for a total transaction of $82,616.60. Following the sale, the executive vice president now owns 562,873 shares in the company, valued at $4,210,290.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Donald B. Olsen sold 11,045 shares of Cricut stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $7.48, for a total value of $82,616.60. Following the completion of the sale, the executive vice president now directly owns 562,873 shares in the company, valued at $4,210,290.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arora Ashish sold 24,134 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $6.97, for a total transaction of $168,213.98. Following the transaction, the chief executive officer now directly owns 1,585,334 shares of the company’s stock, valued at $11,049,777.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,847 shares of company stock valued at $2,130,703. Insiders own 18.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRCT shares. Barclays lowered their price target on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group cut their price objective on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Citigroup decreased their target price on Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th.

Cricut Trading Up 0.6 %

Shares of CRCT stock traded up $0.04 during midday trading on Tuesday, reaching $6.93. 260,509 shares of the stock were exchanged, compared to its average volume of 886,930. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $17.89. The firm has a market cap of $1.50 billion, a PE ratio of 23.76 and a beta of 0.11. The company’s 50 day moving average is $5.93 and its two-hundred day moving average is $5.84.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Cricut had a return on equity of 12.25% and a net margin of 8.54%. The business had revenue of $167.39 million during the quarter, compared to the consensus estimate of $174.20 million. As a group, equities analysts expect that Cricut, Inc. will post 0.24 EPS for the current fiscal year.

Cricut Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Tuesday, July 2nd will be issued a $0.50 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Cricut Profile

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