Intech Investment Management LLC Takes $120,000 Position in Cricut, Inc. (NASDAQ:CRCT)

Intech Investment Management LLC acquired a new position in Cricut, Inc. (NASDAQ:CRCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,969 shares of the company’s stock, valued at approximately $120,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in Cricut in the third quarter worth approximately $93,000. FMR LLC boosted its holdings in Cricut by 779.4% in the third quarter. FMR LLC now owns 19,840 shares of the company’s stock worth $137,000 after purchasing an additional 17,584 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cricut by 6.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock valued at $607,000 after buying an additional 5,613 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Cricut by 258.6% in the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock worth $872,000 after buying an additional 90,757 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Cricut during the 3rd quarter worth about $229,000. Institutional investors own 19.60% of the company’s stock.

Cricut Trading Down 0.4 %

NASDAQ:CRCT opened at $5.22 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of 18.64 and a beta of -0.02. Cricut, Inc. has a 1 year low of $4.66 and a 1 year high of $8.40. The firm’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $5.86.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $209.31 million for the quarter, compared to analyst estimates of $214.41 million. As a group, analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research note on Thursday, March 6th.

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.93, for a total value of $126,012.50. Following the sale, the chief executive officer now owns 3,759,590 shares in the company, valued at approximately $22,294,368.70. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 312,509 shares of company stock worth $1,765,519 over the last three months. 18.02% of the stock is currently owned by insiders.

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.