Donald B. Olsen Sells 30,000 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the sale, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cricut Stock Performance

Shares of NASDAQ CRCT opened at $5.16 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of 18.43 and a beta of 0.13. The company’s fifty day moving average price is $6.19 and its 200 day moving average price is $6.15. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $8.40.

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

Cricut Dividend Announcement

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

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System grew its stake in Cricut by 20.8% in the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after acquiring an additional 2,103 shares during the period. CWM LLC increased its stake in shares of Cricut by 23.9% during the third quarter. CWM LLC now owns 12,026 shares of the company’s stock worth $83,000 after purchasing an additional 2,322 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Cricut by 9.8% during the 2nd quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after purchasing an additional 3,034 shares during the last quarter. Rhumbline Advisers lifted its stake in Cricut by 5.8% in the 2nd quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock valued at $372,000 after buying an additional 3,397 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $607,000 after buying an additional 5,613 shares during the last quarter. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.