Orion Portfolio Solutions LLC Invests $84,000 in Cricut, Inc. (NASDAQ:CRCT)

Orion Portfolio Solutions LLC acquired a new stake in shares of Cricut, Inc. (NASDAQ:CRCT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,763 shares of the company’s stock, valued at approximately $84,000.

Several other institutional investors have also recently added to or reduced their stakes in CRCT. FMR LLC raised its holdings in Cricut by 779.4% in the 3rd quarter. FMR LLC now owns 19,840 shares of the company’s stock valued at $137,000 after acquiring an additional 17,584 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cricut by 6.9% in 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 purchasing an additional 5,613 shares during the period. State Street Corp increased its stake in Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock valued at $7,062,000 after purchasing an additional 31,584 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Cricut during the third quarter worth about $168,000. Finally, Barclays PLC boosted its stake in Cricut by 366.6% in the 3rd quarter. Barclays PLC now owns 76,440 shares of the company’s stock worth $529,000 after buying an additional 60,058 shares during the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Stock Up 0.8 %

Shares of CRCT opened at $4.89 on Friday. The firm has a market cap of $1.04 billion, a PE ratio of 17.46 and a beta of -0.02. The company’s fifty day moving average is $5.40 and its two-hundred day moving average is $5.75. Cricut, Inc. has a fifty-two week low of $4.53 and a fifty-two week high of $8.40.

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

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 21,250 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $5.75, for a total value of $122,187.50. Following the completion of the sale, the chief executive officer now owns 3,695,840 shares of the company’s stock, valued at $21,251,080. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 270,009 shares of company stock worth $1,519,869. 18.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About Cricut

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.