Cricut (NASDAQ:CRCT) Trading Up 4.6% – Time to Buy?

Cricut, Inc. (NASDAQ:CRCT)’s stock price traded up 4.6% during mid-day trading on Thursday . The stock traded as high as $5.70 and last traded at $5.69. 369,495 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 308,195 shares. The stock had previously closed at $5.44.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a report on Thursday.

Cricut Stock Down 2.1 %

The stock has a market capitalization of $1.19 billion, a P/E ratio of 19.86 and a beta of -0.02. The business’s 50 day simple moving average is $5.68 and its two-hundred day simple moving average is $5.90.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $209.31 million for the quarter, compared to analysts’ expectations of $214.41 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current year.

Insider Activity

In related news, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $6.31, for a total transaction of $134,087.50. Following the transaction, the chief executive officer now directly owns 3,823,340 shares of the company’s stock, valued at $24,125,275.40. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 373,210 shares of company stock worth $2,168,982 over the last 90 days. 18.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cricut

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. Barclays PLC boosted its stake in shares of Cricut by 366.6% in the 3rd quarter. Barclays PLC now owns 76,440 shares of the company’s stock worth $529,000 after buying an additional 60,058 shares during the last quarter. Geode Capital Management LLC boosted its position in Cricut by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after purchasing an additional 9,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cricut by 6.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock valued at $607,000 after purchasing an additional 5,613 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cricut by 296.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock valued at $1,283,000 after purchasing an additional 138,385 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Cricut by 26.3% during the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock valued at $123,000 after purchasing an additional 4,484 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Cricut Company 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.