State Street Corp Has $7.06 Million Position in Cricut, Inc. (NASDAQ:CRCT)

State Street Corp increased its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,019,025 shares of the company’s stock after acquiring an additional 31,584 shares during the quarter. State Street Corp’s holdings in Cricut were worth $7,062,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CRCT. Bank of New York Mellon Corp raised its stake in shares of Cricut by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 215,099 shares of the company’s stock valued at $1,288,000 after acquiring an additional 18,939 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Cricut by 9.8% in the second quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock valued at $203,000 after purchasing an additional 3,034 shares during the period. Rhumbline Advisers increased its holdings in Cricut by 5.8% in the second quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock valued at $372,000 after purchasing an additional 3,397 shares during the period. Arizona State Retirement System raised its position in Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock worth $73,000 after purchasing an additional 2,103 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Cricut during the 2nd quarter worth about $290,000. 19.60% of the stock is owned by institutional investors.

Cricut Stock Performance

NASDAQ:CRCT opened at $5.75 on Friday. Cricut, Inc. has a 52 week low of $4.43 and a 52 week high of $8.40. The firm’s fifty day moving average is $5.86 and its 200-day moving average is $6.03. The firm has a market cap of $1.23 billion, a P/E ratio of 20.54 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last issued its quarterly 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). Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $167.89 million for the quarter, compared to the consensus estimate of $165.35 million. During the same period last year, the company posted $0.08 EPS. As a group, sell-side analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s payout ratio is currently 71.43%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 54,839 shares of Cricut stock in a transaction on Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the completion of the sale, the chief executive officer now owns 3,980,294 shares in the company, valued at $21,055,755.26. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the transaction, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,549 shares of company stock valued at $1,199,555. 18.02% of the stock is currently owned by company insiders.

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.