EntryPoint Capital LLC Sells 2,585 Shares of Cricut, Inc. (NASDAQ:CRCT)

EntryPoint Capital LLC lessened its holdings in Cricut, Inc. (NASDAQ:CRCT) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,091 shares of the company’s stock after selling 2,585 shares during the period. EntryPoint Capital LLC’s holdings in Cricut were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new position in shares of Cricut in the fourth quarter valued at about $323,000. American Century Companies Inc. grew its stake in Cricut by 25.8% in the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company’s stock valued at $6,783,000 after buying an additional 244,058 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Cricut in the 4th quarter valued at about $1,029,000. Intech Investment Management LLC acquired a new stake in Cricut during the fourth quarter worth approximately $120,000. Finally, Versor Investments LP boosted its holdings in shares of Cricut by 37.1% during the fourth quarter. Versor Investments LP now owns 42,500 shares of the company’s stock worth $242,000 after acquiring an additional 11,500 shares during the period. Institutional investors and hedge funds own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their target price 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 Activity at Cricut

In other Cricut news, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $5.63, for a total value of $119,637.50. Following the completion of the transaction, the chief executive officer now directly owns 3,717,090 shares of the company’s stock, valued at $20,927,216.70. The trade was a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 312,509 shares of company stock worth $1,765,519. Company insiders own 18.02% of the company’s stock.

Cricut Stock Performance

Shares of Cricut stock opened at $5.16 on Friday. The firm has a 50-day moving average of $5.56 and a 200-day moving average of $5.86. Cricut, Inc. has a 52-week low of $4.66 and a 52-week high of $8.40. The stock has a market cap of $1.10 billion, a PE ratio of 18.43 and a beta of -0.02.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data 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. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $209.31 million during the quarter, compared to the consensus estimate of $214.41 million. Equities research analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

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.