Cricut (NASDAQ:CRCT) Stock Price Up 11.8%

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

Cricut Trading Up 10.8 %

The company’s fifty day moving average is $6.12 and its 200-day moving average is $5.66. The firm has a market capitalization of $1.40 billion, a P/E ratio of 21.69 and a beta of 0.11.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cricut

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised 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 during the period. Arizona State Retirement System boosted its stake 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 valued at $73,000 after buying an additional 2,103 shares during the period. Lazard Asset Management LLC grew its position in 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. Bleakley Financial Group LLC bought a new position in Cricut during the 1st quarter worth $78,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Cricut during the 1st quarter valued at $78,000. 19.60% of the stock is owned by 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.