Strs Ohio Acquires 44,800 Shares of Cricut, Inc. (NASDAQ:CRCT)

Strs Ohio boosted its holdings in Cricut, Inc. (NASDAQ:CRCT) by 139.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,000 shares of the company’s stock after acquiring an additional 44,800 shares during the quarter. Strs Ohio’s holdings in Cricut were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Cricut by 4.4% in the third quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock valued at $29,735,000 after acquiring an additional 133,624 shares during the period. Quantbot Technologies LP bought a new stake in Cricut in the third quarter valued at about $72,000. Allspring Global Investments Holdings LLC bought a new stake in Cricut in the third quarter valued at about $46,000. Finally, Bank of New York Mellon Corp increased its stake in Cricut by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 189,053 shares of the company’s stock valued at $1,756,000 after acquiring an additional 3,900 shares during the period. Institutional investors own 19.60% of the company’s stock.

Insider Transactions at Cricut

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total transaction of $4,830,000.00. Following the transaction, the insider now directly owns 5,273,978 shares in the company, valued at $25,473,313.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their price target on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Barclays reduced their price target on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, March 7th. Finally, Citigroup reduced their price target on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th.

Cricut Trading Down 0.4 %

Shares of CRCT stock opened at $5.39 on Friday. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $17.89. The firm’s 50 day moving average is $4.97 and its 200-day moving average is $6.19. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 22.46 and a beta of 0.11.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a return on equity of 9.59% and a net margin of 7.01%. The company had revenue of $231.25 million for the quarter, compared to analyst estimates of $252.67 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Cricut’s revenue for the quarter was down 17.6% on a year-over-year basis. On average, equities research analysts forecast that Cricut, Inc. will post 0.25 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.