Cricut (NASDAQ:CRCT) Shares Gap Up – Still a Buy?

Cricut, Inc. (NASDAQ:CRCT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.10, but opened at $5.24. Cricut shares last traded at $5.24, with a volume of 398 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lowered their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Cricut Stock Performance

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.43 and a beta of 0.13. The company’s fifty day simple moving average is $6.22 and its two-hundred day simple moving average is $6.15.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same period in the prior year, the business earned $0.08 earnings per share. Sell-side analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio is currently 71.43%.

Insiders Place Their Bets

In other Cricut news, CEO Arora Ashish sold 54,839 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.29, for a total transaction of $290,098.31. Following the completion of the transaction, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at $21,055,755.26. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald B. Olsen sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the transaction, the executive vice president now owns 625,833 shares in the company, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Barclays PLC lifted its position in shares of 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. Geode Capital Management LLC lifted its position in shares of Cricut by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after buying an additional 9,940 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Cricut in the 3rd quarter worth about $168,000. Tenzing Global Management LLC lifted its position in shares of Cricut by 4.9% in the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock worth $14,900,000 after buying an additional 100,000 shares during the last quarter. Finally, State Street Corp lifted its position in Cricut by 3.2% in the 3rd 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. 19.60% of the stock is currently owned by institutional investors.

Cricut Company 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.