Charles Schwab Investment Management Inc. Buys 25,330 Shares of Cricut, Inc. $CRCT

Charles Schwab Investment Management Inc. lifted its stake in shares of Cricut, Inc. (NASDAQ:CRCT) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,475 shares of the company’s stock after acquiring an additional 25,330 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.06% of Cricut worth $703,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cricut by 6.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company’s stock worth $154,000 after acquiring an additional 1,695 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 acquiring an additional 2,684 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Cricut by 6.3% during the 1st quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock worth $288,000 after acquiring an additional 3,326 shares in the last quarter. Algert Global LLC boosted its stake in shares of Cricut by 4.5% during the 4th quarter. Algert Global LLC now owns 97,323 shares of the company’s stock worth $555,000 after acquiring an additional 4,213 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Cricut by 9.4% during the 4th quarter. Barclays PLC now owns 83,601 shares of the company’s stock worth $477,000 after acquiring an additional 7,161 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Cricut Trading Up 1.6%

Shares of CRCT stock opened at $5.79 on Wednesday. The stock has a 50 day moving average of $5.72 and a two-hundred day moving average of $5.63. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The company has a market capitalization of $1.23 billion, a P/E ratio of 17.55 and a beta of 0.16.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. Sell-side analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Cricut from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Sell” and an average target price of $4.52.

Insider Activity at Cricut

In related news, CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $6.25, for a total transaction of $375,000.00. Following the completion of the transaction, the chief executive officer owned 2,871,931 shares in the company, valued at $17,949,568.75. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Matt Tuttle sold 40,491 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $5.69, for a total value of $230,393.79. Following the transaction, the general counsel owned 329,164 shares of the company’s stock, valued at $1,872,943.16. This trade represents a 10.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 436,650 shares of company stock valued at $2,628,343 in the last 90 days. 18.02% of the stock is owned by corporate insiders.

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.