ProShare Advisors LLC Invests $75,000 in Cricut, Inc. (NASDAQ:CRCT)

ProShare Advisors LLC bought a new position in shares of Cricut, Inc. (NASDAQ:CRCT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,233 shares of the company’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cricut by 6.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company’s stock valued at $154,000 after acquiring an additional 1,695 shares during the period. Lazard Asset Management LLC grew its position in Cricut by 47.4% during the 4th quarter. Lazard Asset Management LLC now owns 213,854 shares of the company’s stock worth $1,218,000 after purchasing an additional 68,725 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Cricut in the fourth quarter valued at $436,000. Graham Capital Management L.P. raised its holdings in shares of Cricut by 71.2% in the fourth quarter. Graham Capital Management L.P. now owns 65,081 shares of the company’s stock valued at $371,000 after buying an additional 27,065 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Cricut by 52.0% during the fourth quarter. Deutsche Bank AG now owns 54,027 shares of the company’s stock worth $308,000 after buying an additional 18,488 shares during the period. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Trading Down 1.6%

NASDAQ CRCT opened at $6.23 on Wednesday. The business’s 50-day moving average price is $5.33 and its 200 day moving average price is $5.52. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.17. The company has a market capitalization of $1.32 billion, a PE ratio of 22.25 and a beta of 0.01.

Cricut (NASDAQ:CRCT) last released 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. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The firm had revenue of $162.63 million for the quarter, compared to the consensus estimate of $158.55 million. Equities analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 3.3%. Cricut’s dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

In other news, CEO Arora Ashish sold 60,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $6.22, for a total value of $373,200.00. Following the completion of the sale, the chief executive officer now owns 3,879,329 shares in the company, 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 link. Over the last ninety days, insiders have sold 305,009 shares of company stock worth $1,820,894. 18.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRCT shares. Citigroup reissued a “sell” rating and issued a $4.00 target price (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th. Morgan Stanley dropped their target price on Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a report on Thursday, March 6th.

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.