Martingale Asset Management L P Acquires 104,025 Shares of Cricut, Inc. (NASDAQ:CRCT)

Martingale Asset Management L P boosted its stake in Cricut, Inc. (NASDAQ:CRCT) by 82.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,871 shares of the company’s stock after purchasing an additional 104,025 shares during the period. Martingale Asset Management L P’s holdings in Cricut were worth $1,310,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. raised its holdings in Cricut by 25.8% during the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company’s stock worth $6,783,000 after purchasing an additional 244,058 shares during the last quarter. Geode Capital Management LLC raised its stake in Cricut by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company’s stock worth $6,246,000 after buying an additional 14,191 shares during the last quarter. State Street Corp raised its stake in Cricut by 3.2% during the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock worth $7,062,000 after buying an additional 31,584 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Cricut by 9.9% in the fourth quarter. Renaissance Technologies LLC now owns 608,543 shares of the company’s stock valued at $3,469,000 after buying an additional 55,011 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Cricut by 175.0% during the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company’s stock worth $2,716,000 after acquiring an additional 303,236 shares during the period. 19.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley dropped 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.

Cricut Stock Up 0.8 %

Shares of CRCT stock opened at $4.89 on Friday. The firm has a 50 day moving average of $5.40 and a 200-day moving average of $5.75. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 17.46 and a beta of -0.02. Cricut, Inc. has a 52 week low of $4.53 and a 52 week high of $8.40.

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

Insider Activity

In other news, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $5.75, for a total transaction of $122,187.50. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 270,009 shares of company stock worth $1,519,869 in the last three months. Company insiders own 18.02% of the company’s stock.

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.