Ryan Harmer Sells 20,000 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) insider Ryan Harmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $9.51, for a total transaction of $190,200.00. Following the transaction, the insider now owns 246,126 shares in the company, valued at $2,340,658.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ryan Harmer also recently made the following trade(s):

• On Friday, August 11th, Ryan Harmer sold 1,107 shares of Cricut stock. The stock was sold at an average price of $10.40, for a total transaction of $11,512.80.

Cricut Trading Down 1.3 %

Shares of NASDAQ:CRCT opened at $9.46 on Friday. The company has a 50-day moving average price of $11.53 and a 200-day moving average price of $10.72. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 43.00 and a beta of 0.31. Cricut, Inc. has a 12 month low of $6.02 and a 12 month high of $17.89.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Cricut had a return on equity of 7.48% and a net margin of 5.93%. The company had revenue of $177.80 million for the quarter, compared to the consensus estimate of $175.00 million. During the same quarter in the previous year, the business earned $0.06 EPS. Cricut’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Cricut, Inc. will post 0.26 EPS for the current fiscal year.

Cricut Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a $1.00 dividend. This is a positive change from Cricut’s previous dividend of $0.35. The ex-dividend date of this dividend was Friday, June 30th.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on Cricut from $7.00 to $6.00 in a research note on Thursday, May 11th. Citigroup started coverage on Cricut in a research note on Monday. They set a “neutral” rating and a $10.50 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Abdiel Capital Advisors LP increased its position in shares of Cricut by 2.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 14,886,303 shares of the company’s stock valued at $137,996,000 after buying an additional 337,869 shares during the period. BlackRock Inc. grew its holdings in shares of Cricut by 426.3% during the 2nd quarter. BlackRock Inc. now owns 3,046,653 shares of the company’s stock worth $37,169,000 after acquiring an additional 2,467,826 shares during the period. Morgan Stanley raised its position in shares of Cricut by 27.3% in the 4th quarter. Morgan Stanley now owns 2,912,115 shares of the company’s stock worth $26,995,000 after acquiring an additional 625,151 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cricut by 8.4% during the third quarter. Vanguard Group Inc. now owns 2,469,975 shares of the company’s stock valued at $22,872,000 after purchasing an additional 190,428 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Cricut by 128.4% in the second quarter. Geode Capital Management LLC now owns 908,932 shares of the company’s stock worth $11,089,000 after purchasing an additional 510,930 shares during the period. 19.60% of the stock is currently owned by institutional investors.

About Cricut

Cricut, Inc engages in the design and marketing of 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.