Vanguard Group Inc. Grows Position in Cricut, Inc. (NASDAQ:CRCT)

Vanguard Group Inc. lifted its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 4.4% in the third quarter, HoldingsChannel.com reports. The firm owned 3,200,781 shares of the company’s stock after acquiring an additional 133,624 shares during the quarter. Vanguard Group Inc.’s holdings in Cricut were worth $29,735,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Cricut by 6.4% during the 3rd quarter. California State Teachers Retirement System now owns 22,457 shares of the company’s stock worth $208,000 after purchasing an additional 1,342 shares during the period. Royal Bank of Canada lifted its stake in Cricut by 154.0% during the 2nd quarter. Royal Bank of Canada now owns 3,183 shares of the company’s stock worth $39,000 after acquiring an additional 1,930 shares in the last quarter. UBS Group AG lifted its stake in Cricut by 203.0% during the 3rd quarter. UBS Group AG now owns 3,436 shares of the company’s stock worth $32,000 after acquiring an additional 2,302 shares in the last quarter. Deutsche Bank AG lifted its stake in Cricut by 14.9% during the 3rd quarter. Deutsche Bank AG now owns 23,932 shares of the company’s stock worth $222,000 after acquiring an additional 3,096 shares in the last quarter. Finally, Credit Suisse AG lifted its stake in Cricut by 15.0% during the 1st quarter. Credit Suisse AG now owns 23,972 shares of the company’s stock worth $245,000 after acquiring an additional 3,135 shares in the last quarter. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Citigroup decreased their target price on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Barclays decreased their target price on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, March 7th.

Cricut Price Performance

CRCT stock opened at $5.09 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 21.21 and a beta of 0.11. The business’s 50-day moving average is $4.99 and its two-hundred day moving average is $6.50. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $17.89.

Cricut (NASDAQ:CRCT) last posted its quarterly 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). The company had revenue of $231.25 million during the quarter, compared to analyst estimates of $252.67 million. Cricut had a net margin of 7.01% and a return on equity of 9.59%. Cricut’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, analysts expect that Cricut, Inc. will post 0.25 EPS for the current year.

Insider Activity

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $4.83, for a total value of $4,830,000.00. Following the transaction, the insider now owns 5,273,978 shares in the company, valued at approximately $25,473,313.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 18.46% of the company’s stock.

About Cricut

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.