Cricut, Inc. (NASDAQ:CRCT) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its stake in Cricut, Inc. (NASDAQ:CRCT) by 47.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,307 shares of the company’s stock after selling 224,809 shares during the quarter. Millennium Management LLC owned approximately 0.12% of Cricut worth $1,410,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Cricut by 46.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 127,114 shares of the company’s stock valued at $725,000 after acquiring an additional 40,174 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Cricut during the fourth quarter worth $1,029,000. SG Americas Securities LLC increased its stake in Cricut by 26.3% during the fourth quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock worth $123,000 after acquiring an additional 4,484 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Cricut by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company’s stock worth $186,000 after purchasing an additional 2,684 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Cricut by 52.0% during the 4th quarter. Deutsche Bank AG now owns 54,027 shares of the company’s stock worth $308,000 after purchasing an additional 18,488 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $6.22, for a total transaction of $373,200.00. Following the completion of the sale, the chief executive officer now owns 3,879,329 shares of the company’s stock, valued at approximately $24,129,426.38. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 305,009 shares of company stock worth $1,820,894. 18.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CRCT has been the subject of several research reports. Citigroup reaffirmed a “sell” rating and issued a $4.00 target price (down from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley lowered their target price on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a report on Thursday, March 6th.

Cricut Stock Down 1.6%

Shares of NASDAQ CRCT opened at $6.23 on Wednesday. The stock has a market cap of $1.32 billion, a PE ratio of 22.25 and a beta of 0.01. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.17. The business has a 50-day moving average price of $5.33 and a 200 day moving average price of $5.52.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Sell-side analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a $0.10 dividend. This represents a dividend yield of 3.3%. The ex-dividend date is Monday, July 7th. Cricut’s dividend payout ratio is presently 64.52%.

Cricut 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.