Abdiel Capital Management, Llc Purchases 20,393 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT – Get Rating) major shareholder Abdiel Capital Management, Llc purchased 20,393 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were acquired at an average price of $13.40 per share, for a total transaction of $273,266.20. Following the purchase, the insider now directly owns 14,117,021 shares of the company’s stock, valued at approximately $189,168,081.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Abdiel Capital Management, Llc also recently made the following trade(s):

• On Wednesday, April 20th, Abdiel Capital Management, Llc purchased 42,298 shares of Cricut stock. The shares were acquired at an average price of $13.88 per share, for a total transaction of $587,096.24.
• On Wednesday, April 13th, Abdiel Capital Management, Llc purchased 20,000 shares of Cricut stock. The shares were acquired at an average price of $13.33 per share, for a total transaction of $266,600.00.
• On Monday, April 11th, Abdiel Capital Management, Llc purchased 35,500 shares of Cricut stock. The shares were acquired at an average price of $13.31 per share, for a total transaction of $472,505.00.
• On Friday, April 8th, Abdiel Capital Management, Llc purchased 22,500 shares of Cricut stock. The shares were acquired at an average price of $13.43 per share, for a total transaction of $302,175.00.
• On Wednesday, April 6th, Abdiel Capital Management, Llc purchased 25,000 shares of Cricut stock. The shares were acquired at an average price of $13.35 per share, for a total transaction of $333,750.00.
• On Monday, April 4th, Abdiel Capital Management, Llc bought 30,000 shares of Cricut stock. The stock was purchased at an average price of $13.44 per share, for a total transaction of $403,200.00.
• On Friday, April 1st, Abdiel Capital Management, Llc bought 45,000 shares of Cricut stock. The stock was purchased at an average price of $13.19 per share, for a total transaction of $593,550.00.
• On Wednesday, March 30th, Abdiel Capital Management, Llc bought 35,000 shares of Cricut stock. The stock was purchased at an average price of $12.88 per share, for a total transaction of $450,800.00.
• On Monday, March 28th, Abdiel Capital Management, Llc bought 25,000 shares of Cricut stock. The stock was purchased at an average price of $12.01 per share, for a total transaction of $300,250.00.
• On Friday, March 25th, Abdiel Capital Management, Llc bought 37,500 shares of Cricut stock. The stock was purchased at an average price of $11.84 per share, for a total transaction of $444,000.00.

NASDAQ:CRCT traded down $0.05 during trading hours on Wednesday, reaching $13.88. The company had a trading volume of 225,635 shares, compared to its average volume of 356,192. Cricut, Inc. has a 1-year low of $9.61 and a 1-year high of $47.36. The company has a market capitalization of $3.09 billion and a price-to-earnings ratio of 21.69. The stock has a 50 day moving average price of $14.38.

Cricut (NASDAQ:CRCT – Get Rating) last announced its earnings results on Tuesday, March 8th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.14). The business had revenue of $387.80 million for the quarter, compared to analyst estimates of $407.51 million. Cricut had a return on equity of 22.66% and a net margin of 10.75%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. On average, research analysts forecast that Cricut, Inc. will post 0.67 EPS for the current year.

Several hedge funds have recently made changes to their positions in CRCT. Morgan Stanley acquired a new position in shares of Cricut during the 1st quarter worth approximately $417,000. Bowie Capital Management LLC raised its stake in shares of Cricut by 6.3% during the 3rd quarter. Bowie Capital Management LLC now owns 712,220 shares of the company’s stock worth $19,644,000 after buying an additional 42,220 shares during the period. BlackRock Inc. raised its stake in Cricut by 27.8% in the 3rd quarter. BlackRock Inc. now owns 319,241 shares of the company’s stock valued at $8,805,000 after purchasing an additional 69,379 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Cricut in the 3rd quarter valued at $245,000. Finally, Geode Capital Management LLC raised its stake in Cricut by 32.6% in the 3rd quarter. Geode Capital Management LLC now owns 196,594 shares of the company’s stock valued at $5,422,000 after purchasing an additional 48,307 shares during the last quarter. 14.84% of the stock is owned by institutional investors and hedge funds.

CRCT has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Cricut from $20.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 9th. Zacks Investment Research lowered Cricut from a “hold” rating to a “sell” rating in a research report on Thursday, March 10th. Barclays decreased their price target on Cricut from $20.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, March 10th. Citigroup decreased their price target on Cricut from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, December 22nd. Finally, Robert W. Baird downgraded Cricut from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $13.00 in a report on Wednesday, March 9th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.67.

Cricut Company Profile (Get Rating)

Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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.

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