Cricut, Inc. $CRCT Stake Raised by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 191.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,454 shares of the company’s stock after buying an additional 25,900 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cricut were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CRCT. Ascent Group LLC bought a new stake in Cricut during the first quarter worth approximately $218,000. Bank of New York Mellon Corp raised its holdings in Cricut by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock worth $2,502,000 after purchasing an additional 9,300 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cricut by 22.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 136,475 shares of the company’s stock worth $703,000 after purchasing an additional 25,330 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Cricut by 94.2% during the first quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company’s stock worth $206,000 after purchasing an additional 19,400 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Cricut by 6.3% during the first quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock worth $288,000 after purchasing an additional 3,326 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Insider Activity at Cricut

In other Cricut news, General Counsel Matt Tuttle sold 40,491 shares of Cricut stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $5.69, for a total transaction of $230,393.79. Following the transaction, the general counsel directly owned 329,164 shares in the company, valued at approximately $1,872,943.16. The trade was a 10.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arora Ashish sold 53,489 shares of Cricut stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $5.94, for a total transaction of $317,724.66. Following the transaction, the chief executive officer owned 2,758,442 shares in the company, valued at approximately $16,385,145.48. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,650 shares of company stock worth $2,015,480. Corporate insiders own 18.02% of the company’s stock.

Cricut Stock Performance

NASDAQ CRCT opened at $5.76 on Tuesday. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.33. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 17.45 and a beta of 0.18. The firm’s 50 day moving average price is $5.92 and its two-hundred day moving average price is $5.76.

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

Analysts Set New Price Targets

CRCT has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cricut in a report on Saturday, September 27th. Wall Street Zen cut Cricut from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $4.52.

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.