Donald B. Olsen Sells 11,045 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCTGet Free Report) EVP Donald B. Olsen sold 11,045 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $7.48, for a total value of $82,616.60. Following the transaction, 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 filing with the SEC, which is available through this link.

Cricut Stock Down 1.6 %

Cricut stock opened at $6.95 on Friday. The stock has a 50-day moving average price of $5.45 and a 200 day moving average price of $6.00. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 23.97 and a beta of 0.03. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $17.89.

Cricut (NASDAQ:CRCTGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $231.25 million for the quarter, compared to analysts’ expectations of $252.67 million. Cricut had a return on equity of 12.25% and a net margin of 8.54%. The business’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. Research analysts anticipate that Cricut, Inc. will post 0.24 EPS for the current fiscal year.

Cricut Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, July 19th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 2nd. This represents a yield of 1.3%.

Institutional Investors Weigh In On Cricut

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings in Cricut by 584.2% during the first quarter. GSA Capital Partners LLP now owns 423,849 shares of the company’s stock worth $2,018,000 after buying an additional 361,904 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cricut by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock worth $17,416,000 after buying an additional 360,080 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Cricut during the first quarter valued at $758,000. Dynamic Technology Lab Private Ltd purchased a new position in Cricut in the 4th quarter valued at about $411,000. Finally, Strs Ohio boosted its stake in shares of Cricut by 139.1% in the fourth quarter. Strs Ohio now owns 77,000 shares of the company’s stock worth $507,000 after acquiring an additional 44,800 shares during the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Citigroup dropped their target price on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Barclays decreased 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.

View Our Latest Report on CRCT

About Cricut

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Cricut (NASDAQ:CRCT)

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