Cricut (NASDAQ:CRCT) Trading Down 7.6%

Cricut, Inc. (NASDAQ:CRCTGet Rating)’s share price traded down 7.6% during mid-day trading on Friday . The stock traded as low as $10.04 and last traded at $10.04. 1,001 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 204,769 shares. The stock had previously closed at $10.86.

Analyst Upgrades and Downgrades

CRCT has been the topic of several research reports. Barclays dropped their price target on Cricut from $7.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, August 11th. Morgan Stanley reduced their target price on Cricut from $5.70 to $5.00 and set an “underweight” rating for the company in a report on Monday, October 17th.

Cricut Stock Performance

The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 35.04 and a beta of 0.17. The business’s 50 day moving average is $9.13 and its 200 day moving average is $8.20.

Insider Buying and Selling at Cricut

In other Cricut news, major shareholder Abdiel Capital Management, Llc bought 12,816 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was acquired at an average price of $8.99 per share, with a total value of $115,215.84. Following the completion of the transaction, the insider now directly owns 14,561,250 shares in the company, valued at approximately $130,905,637.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 152,701 shares of company stock valued at $1,313,718 in the last three months. 16.77% of the stock is currently owned by company insiders.

Institutional Trading of Cricut

Several institutional investors have recently made changes to their positions in CRCT. UBS Group AG lifted its position in Cricut by 203.0% in the 3rd quarter. UBS Group AG now owns 3,436 shares of the company’s stock worth $32,000 after buying an additional 2,302 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Cricut by 113.2% during the second quarter. Legal & General Group Plc now owns 6,033 shares of the company’s stock worth $37,000 after acquiring an additional 3,203 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Cricut during the second quarter valued at $38,000. Allspring Global Investments Holdings LLC grew its stake in Cricut by 43.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,024 shares of the company’s stock valued at $46,000 after purchasing an additional 1,530 shares in the last quarter. Finally, Credit Suisse AG acquired a new position in Cricut in the 2nd quarter worth about $72,000. 16.40% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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