Cricut (NASDAQ:CRCT) Shares Gap Up – Here’s Why

Cricut, Inc. (NASDAQ:CRCT) gapped up prior to trading on Tuesday . The stock had previously closed at $5.10, but opened at $5.24. Cricut shares last traded at $5.24, with a volume of 398 shares.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Cricut Trading Up 0.8 %

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.71 and a beta of 0.13. The stock’s 50 day moving average is $6.24 and its two-hundred day moving average is $6.17.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, research analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The firm also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is 71.43%.

Insider Transactions at Cricut

In related news, EVP Donald B. Olsen sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. This trade represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRCT. Vanguard Group Inc. raised its holdings in Cricut by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock valued at $17,416,000 after acquiring an additional 360,080 shares during the period. American Century Companies Inc. increased its stake in Cricut by 42.7% in the second quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after acquiring an additional 135,539 shares during the last quarter. Tenzing Global Management LLC increased its stake in Cricut by 4.9% in the third quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after acquiring an additional 100,000 shares during the last quarter. Algert Global LLC bought a new position in Cricut in the second quarter valued at approximately $558,000. Finally, Martingale Asset Management L P increased its stake in Cricut by 258.6% in the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock valued at $872,000 after acquiring an additional 90,757 shares during the last quarter. 19.60% of the stock is owned by institutional investors.

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.