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

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 10,000 shares of the firm’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 directly owned 314,428 shares of the company’s stock, valued at approximately $1,792,239.60. This trade represents a 3.08% decrease in their position. The transaction 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 value of $71,140.04.

Cricut Stock Down 2.2%

Shares of Cricut stock opened at $5.68 on Friday. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.93. The business’s fifty day simple moving average is $4.94 and its 200-day simple moving average is $4.50. The firm has a market cap of $1.19 billion, a PE ratio of 13.21 and a beta of 0.19.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group began coverage on shares of Cricut in a report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price objective on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. Finally, Zacks Research raised Cricut from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $4.07.

Hedge Funds Weigh In On Cricut

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Cricut by 374.5% during the fourth quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock worth $4,863,000 after purchasing an additional 775,330 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Cricut in the second quarter valued at approximately $2,409,000. Algert Global LLC grew its holdings in shares of Cricut by 354.9% in the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock valued at $3,873,000 after purchasing an additional 480,364 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Cricut by 51.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after buying an additional 467,934 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Cricut by 76.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock worth $5,700,000 after buying an additional 392,951 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

About Cricut

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.