Cricut (NASDAQ:CRCT) Trading 11.8% Higher

Cricut, Inc. (NASDAQ:CRCT)’s stock price rose 11.8% during trading on Wednesday . The company traded as high as $6.61 and last traded at $6.54. Approximately 367,916 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 820,209 shares. The stock had previously closed at $5.85.

Cricut Trading Up 10.8 %

The firm has a market capitalization of $1.40 billion, a PE ratio of 21.69 and a beta of 0.11. The business’s 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $5.66.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Cricut had a net margin of 8.54% and a return on equity of 12.25%. The firm had revenue of $167.39 million during the quarter, compared to the consensus estimate of $174.20 million. As a group, equities research analysts anticipate that Cricut, Inc. will post 0.24 earnings per share for the current year.

Insider Activity

In related news, CEO Arora Ashish sold 129,186 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $7.11, for a total transaction of $918,512.46. Following the completion of the transaction, the chief executive officer now directly owns 2,090,420 shares of the company’s stock, valued at $14,862,886.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Arora Ashish sold 129,186 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.11, for a total transaction of $918,512.46. Following the sale, the chief executive officer now directly owns 2,090,420 shares in the company, valued at approximately $14,862,886.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald B. Olsen sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $7.05, for a total value of $176,250.00. Following the sale, the executive vice president now owns 573,918 shares in the company, valued at $4,046,121.90. The disclosure for this sale can be found here. Insiders have sold 298,847 shares of company stock worth $2,130,703 over the last ninety days. Corporate insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRCT. CWM LLC grew its position in shares of Cricut by 150.8% during the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after buying an additional 5,835 shares in the last quarter. Arizona State Retirement System lifted its stake in Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after acquiring an additional 2,103 shares during the period. Lazard Asset Management LLC lifted its stake in Cricut by 9,096.7% in the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after acquiring an additional 13,645 shares during the period. Bleakley Financial Group LLC bought a new position in Cricut during the 1st quarter worth about $78,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Cricut in the 1st quarter valued at about $78,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

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.