JPMorgan Chase & Co. Purchases 138,385 Shares of Cricut, Inc. (NASDAQ:CRCT)

JPMorgan Chase & Co. raised its holdings in shares of Cricut, Inc. (NASDAQ:CRCT) by 296.2% in the third quarter, HoldingsChannel.com reports. The firm owned 185,098 shares of the company’s stock after buying an additional 138,385 shares during the period. JPMorgan Chase & Co.’s holdings in Cricut were worth $1,283,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Barclays PLC boosted its stake in Cricut by 366.6% during the 3rd quarter. Barclays PLC now owns 76,440 shares of the company’s stock valued at $529,000 after purchasing an additional 60,058 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cricut by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after acquiring an additional 9,940 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Cricut in the third quarter valued at approximately $168,000. Tenzing Global Management LLC raised its holdings in Cricut by 4.9% during the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after acquiring an additional 100,000 shares during the period. Finally, State Street Corp grew its position in shares of Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock valued at $7,062,000 after purchasing an additional 31,584 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cricut Trading Down 2.5 %

CRCT stock opened at $5.79 on Friday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 20.68 and a beta of -0.01. The firm’s 50-day moving average price is $5.69 and its two-hundred day moving average price is $5.98. Cricut, Inc. has a 12-month low of $4.43 and a 12-month high of $8.40.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, November 5th. The company reported $0.05 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 company had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. During the same period in the prior year, the business posted $0.08 earnings per share. Equities analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Announces Dividend

The business also recently declared a None dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

Insider Transactions at Cricut

In other news, CEO Arora Ashish sold 54,839 shares of Cricut stock in a transaction that occurred 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 directly owns 3,980,294 shares in the company, valued at $21,055,755.26. The trade was a 1.36 % decrease in their ownership of the stock. The sale 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 Cricut stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.23, for a total value of $156,900.00. Following the completion of the sale, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at $3,273,106.59. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 295,549 shares of company stock valued at $1,691,917 in the last ninety days. 18.02% of the stock is currently owned by corporate insiders.

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.