Royce & Associates LP Sells 2,176 Shares of Cricut, Inc. (NASDAQ:CRCT)

Royce & Associates LP trimmed its position in shares of Cricut, Inc. (NASDAQ:CRCT) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,583 shares of the company’s stock after selling 2,176 shares during the period. Royce & Associates LP’s holdings in Cricut were worth $163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Cricut during the 4th quarter valued at $36,000. Copeland Capital Management LLC bought a new stake in Cricut in the 4th quarter valued at $63,000. Drive Wealth Management LLC purchased a new position in shares of Cricut in the 4th quarter worth $64,000. Olympiad Research LP purchased a new position in shares of Cricut in the 4th quarter worth $67,000. Finally, Quantbot Technologies LP purchased a new position in shares of Cricut in the 3rd quarter worth $93,000. 19.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Arora Ashish sold 35,203 shares of Cricut stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.37, for a total transaction of $189,040.11. Following the completion of the transaction, the chief executive officer now directly owns 3,265,322 shares of the company’s stock, valued at approximately $17,534,779.14. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 306,516 shares of company stock valued at $1,734,055. Company insiders own 18.02% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley dropped their price objective on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a research note on Thursday, March 6th.

Cricut Trading Down 0.6 %

CRCT stock opened at $5.36 on Friday. Cricut, Inc. has a 12 month low of $4.55 and a 12 month high of $8.40. The company has a 50-day moving average price of $5.61 and a 200 day moving average price of $5.88. The stock has a market cap of $1.14 billion, a PE ratio of 19.14 and a beta of -0.02.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Cricut had a net margin of 8.47% and a return on equity of 12.36%. The firm had revenue of $209.31 million during the quarter, compared to analysts’ expectations of $214.41 million. Sell-side analysts forecast that Cricut, Inc. will post 0.28 EPS for the current year.

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.