Alps Advisors Inc. Buys 102,710 Shares of Cricut, Inc. $CRCT

Alps Advisors Inc. purchased a new position in shares of Cricut, Inc. (NASDAQ:CRCT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 102,710 shares of the company’s stock, valued at approximately $655,000.

Several other institutional investors have also recently made changes to their positions in CRCT. Bank of New York Mellon Corp purchased a new position in Cricut during the second quarter valued at approximately $2,409,000. Dimensional Fund Advisors LP grew its stake in Cricut by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock valued at $3,687,000 after purchasing an additional 229,663 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Cricut in the second quarter valued at about $355,000. Bank of America Corp DE raised its holdings in Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock worth $437,000 after purchasing an additional 64,737 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Cricut by 18.1% in the first quarter. Empowered Funds LLC now owns 420,595 shares of the company’s stock worth $1,573,000 after purchasing an additional 64,362 shares in the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Insider Activity at Cricut

In related news, CEO Ashish Arora sold 70,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $8.95, for a total transaction of $626,500.00. Following the completion of the transaction, the chief executive officer owned 4,838,740 shares of the company’s stock, valued at approximately $43,306,723. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 750,000 shares of company stock valued at $4,840,900. Corporate insiders own 16.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CRCT shares. Zacks Research downgraded Cricut from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Cricut from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, November 3rd. Barclays raised their price objective on Cricut from $4.00 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, November 5th. The Goldman Sachs Group initiated coverage on Cricut in a report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price objective for the company. Finally, Morgan Stanley reissued an “underweight” rating and set a $3.70 price target on shares of Cricut in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Cricut presently has a consensus rating of “Strong Sell” and an average target price of $4.73.

Cricut Stock Up 1.8%

Shares of NASDAQ:CRCT opened at $8.65 on Friday. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $9.70. The business has a fifty day moving average of $6.54 and a two-hundred day moving average of $5.04. The stock has a market cap of $1.80 billion, a P/E ratio of 18.80 and a beta of 0.24.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. Cricut had a return on equity of 25.88% and a net margin of 13.42%. The business had revenue of $188.62 million for the quarter, compared to analyst estimates of $172.02 million. On average, equities analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.

Cricut Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 21st. Stockholders of record on Thursday, January 7th will be issued a $0.10 dividend. This represents a dividend yield of 228.0%. The ex-dividend date is Thursday, January 7th. Cricut’s dividend payout ratio is currently 43.48%.

Cricut Company Profile

Cricut, Inc. provides a platform of products and services for people who create personalized projects. Its offerings include connected cutting machines, heat presses, tools and materials used to make items such as cards, home décor, apparel and gifts. The company also offers Design Space, a digital design application that lets users create or customize projects and send them to compatible Cricut machines. Optional subscription services provide access to additional designs and other creative content.