Abdiel Capital Management, Llc Acquires 60,718 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) major shareholder Abdiel Capital Management, Llc acquired 60,718 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was bought at an average price of $33.71 per share, with a total value of $2,046,803.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Abdiel Capital Management, Llc also recently made the following trade(s):

  • On Monday, July 19th, Abdiel Capital Management, Llc acquired 24,259 shares of Cricut stock. The stock was bought at an average price of $33.19 per share, with a total value of $805,156.21.
  • On Wednesday, July 14th, Abdiel Capital Management, Llc acquired 45,371 shares of Cricut stock. The stock was bought at an average price of $33.45 per share, with a total value of $1,517,659.95.
  • On Monday, July 12th, Abdiel Capital Management, Llc acquired 64,894 shares of Cricut stock. The stock was bought at an average price of $33.55 per share, with a total value of $2,177,193.70.
  • On Thursday, July 8th, Abdiel Capital Management, Llc acquired 26,316 shares of Cricut stock. The stock was bought at an average price of $34.44 per share, with a total value of $906,323.04.
  • On Tuesday, July 6th, Abdiel Capital Management, Llc acquired 56,758 shares of Cricut stock. The stock was bought at an average price of $34.00 per share, with a total value of $1,929,772.00.
  • On Wednesday, June 23rd, Abdiel Capital Management, Llc acquired 500,000 shares of Cricut stock. The stock was bought at an average price of $33.03 per share, with a total value of $16,515,000.00.
  • On Monday, June 21st, Abdiel Capital Management, Llc bought 36,584 shares of Cricut stock. The shares were acquired at an average cost of $33.40 per share, with a total value of $1,221,905.60.
  • On Friday, June 18th, Abdiel Capital Management, Llc bought 47,770 shares of Cricut stock. The shares were acquired at an average cost of $34.48 per share, with a total value of $1,647,109.60.
  • On Wednesday, June 16th, Abdiel Capital Management, Llc bought 60,696 shares of Cricut stock. The shares were acquired at an average cost of $33.53 per share, with a total value of $2,035,136.88.
  • On Monday, June 14th, Abdiel Capital Management, Llc bought 47,000 shares of Cricut stock. The shares were acquired at an average cost of $33.26 per share, with a total value of $1,563,220.00.

CRCT stock opened at $38.00 on Thursday. Cricut, Inc. has a 12-month low of $14.88 and a 12-month high of $47.36. The business has a 50 day moving average of $33.75.

Cricut (NASDAQ:CRCT) last released its earnings results on Thursday, May 13th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $323.82 million during the quarter. As a group, equities analysts expect that Cricut, Inc. will post 0.9 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in CRCT. UBS Group AG purchased a new stake in Cricut in the 1st quarter worth approximately $30,000. JPMorgan Chase & Co. acquired a new stake in Cricut in the 1st quarter worth $198,000. Alliancebernstein L.P. acquired a new stake in Cricut in the 1st quarter worth $346,000. Morgan Stanley acquired a new stake in Cricut in the 1st quarter worth $417,000. Finally, Laurion Capital Management LP acquired a new stake in Cricut in the 1st quarter worth $495,000. Institutional investors own 5.66% of the company’s stock.

Several research firms recently commented on CRCT. began coverage on shares of Cricut in a research note on Monday, April 19th. They set a “buy” rating and a $25.00 target price for the company. The Goldman Sachs Group began coverage on shares of Cricut in a research note on Monday, April 19th. They set a “buy” rating and a $35.00 target price for the company. Barclays upped their price target on shares of Cricut from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, May 14th. Robert W. Baird began coverage on shares of Cricut in a research report on Monday, April 19th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Citigroup began coverage on shares of Cricut in a research report on Monday, April 19th. They issued a “buy” rating and a $25.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Cricut currently has an average rating of “Buy” and an average price target of $31.00.

Cricut Company Profile

Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Europe, and internationally. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company provides connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations under the Cricut brand.

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