The Goldman Sachs Group Lowers Cricut (NASDAQ:CRCT) Price Target to $5.75

Cricut (NASDAQ:CRCT) had its price target dropped by research analysts at The Goldman Sachs Group from $6.50 to $5.75 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 0.17% from the stock’s current price.

Cricut Trading Down 12.3 %

CRCT traded down $0.81 on Wednesday, reaching $5.76. The stock had a trading volume of 447,758 shares, compared to its average volume of 697,130. The company has a market cap of $1.25 billion, a P/E ratio of 18.39 and a beta of 0.13. The business’s 50-day moving average price is $6.36 and its two-hundred day moving average price is $6.21. Cricut has a 12-month low of $4.43 and a 12-month high of $8.66.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 13.18% and a net margin of 9.16%. During the same period in the prior year, the firm earned $0.08 EPS. As a group, analysts predict that Cricut will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 77,823 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $6.37, for a total value of $495,732.51. Following the transaction, the chief executive officer now directly owns 2,690,544 shares in the company, valued at approximately $17,138,765.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the transaction, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at $3,764,481.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arora Ashish sold 77,823 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $6.37, for a total transaction of $495,732.51. Following the completion of the sale, the chief executive officer now owns 2,690,544 shares of the company’s stock, valued at $17,138,765.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,112 shares of company stock worth $1,599,515 in the last ninety days. 18.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cricut

Large investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Cricut by 150.8% in the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock valued at $58,000 after purchasing an additional 5,835 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Cricut by 9,096.7% during the first quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after buying an additional 13,645 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Cricut during the third quarter worth about $70,000. Arizona State Retirement System boosted its position in shares of 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 last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Cricut in the first quarter worth approximately $78,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.