Drive Wealth Management LLC Purchases Shares of 11,163 Cricut, Inc. (NASDAQ:CRCT)

Drive Wealth Management LLC purchased a new stake in Cricut, Inc. (NASDAQ:CRCT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,163 shares of the company’s stock, valued at approximately $64,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its position in shares of Cricut by 4.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company’s stock valued at $280,000 after buying an additional 2,272 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cricut by 26.3% in the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock valued at $123,000 after purchasing an additional 4,484 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Cricut by 141.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company’s stock valued at $105,000 after purchasing an additional 10,805 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Cricut by 296.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock valued at $1,283,000 after purchasing an additional 138,385 shares during the period. Finally, Barclays PLC lifted its stake in shares of Cricut by 366.6% in 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 period. Institutional investors own 19.60% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price objective 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 Price Performance

Shares of NASDAQ:CRCT opened at $5.53 on Wednesday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 19.75 and a beta of -0.01. The business’s 50-day moving average is $5.70 and its 200-day moving average is $5.98. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $8.40.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $165.35 million. During the same period last year, the company posted $0.08 earnings per share. Analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

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

Insider Transactions at Cricut

In other news, EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $6.00, for a total value of $127,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,844,590 shares of the company’s stock, valued at approximately $23,067,540. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 295,549 shares of company stock valued at $1,691,917 over the last ninety days. 18.02% of the stock is currently owned by insiders.

Cricut 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.