Two Sigma Investments LP Has $1.38 Million Holdings in Cricut, Inc. (NASDAQ:CRCT)

Two Sigma Investments LP trimmed its position in shares of Cricut, Inc. (NASDAQ:CRCT) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,456 shares of the company’s stock after selling 99,673 shares during the period. Two Sigma Investments LP owned approximately 0.11% of Cricut worth $1,376,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cricut by 6.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company’s stock valued at $154,000 after buying an additional 1,695 shares during the period. Price T Rowe Associates Inc. MD raised its position in Cricut by 9.0% in the fourth 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 in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Cricut by 11.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company’s stock worth $193,000 after buying an additional 3,365 shares in the last quarter. Algert Global LLC increased its holdings in shares of Cricut by 4.5% during the fourth quarter. Algert Global LLC now owns 97,323 shares of the company’s stock worth $555,000 after buying an additional 4,213 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of 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 buying an additional 4,484 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRCT. Morgan Stanley lowered their price target 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. Citigroup reaffirmed a “sell” rating and issued a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 35,203 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.37, for a total transaction of $189,040.11. Following the transaction, the chief executive officer now directly owns 3,265,322 shares in the company, valued at $17,534,779.14. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 305,009 shares of company stock worth $1,820,894. Insiders own 18.61% of the company’s stock.

Cricut Stock Down 1.6%

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

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The business had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. On average, research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

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

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.