Abdiel Capital Advisors LP recently announced the acquisition of new stake in Cricut Inc. (NASDAQ:CRCT). The institutional investor has increased its shareholding in the Technology company by 2.32% to 14.89 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 34.12% valued currently at $138.0 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.19 million to 2.44 million shares. And Morgan Stanley Investment Managem has lifted its position by 30.82% or 0.48 million shares – to 2.06 million shares.
With over 77125.0 Cricut Inc. (CRCT) shares trading Tuesday and a closing price of $9.52 on the day, the dollar volume was approximately $0.73 million. The shares have shown a positive half year performance of 34.27% and its price on 01/24/23 gained nearly 2.81%. Currently, there are 215.35M common shares owned by the public and among those 38.88M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CRCT have a consensus price objective of $7.25. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $5.00. The average price target is -31.31% below its recent price level and a downside to the estimated low will see the stock lose -90.4% over that period. But an upside of 4.8% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 139 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 130 of these insider trades were purchases, accounting for 3,947,157 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 228,543 shares.
The top 3 mutual fund holders in Cricut Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Morgan Stanley Instl. Fund Tr. -. Vanguard Total Stock Market Index owns 0.74 million shares of the company’s stock, all valued at over $6.89 million. Vanguard Extended Market Index Fu bought 4330.0 shares to see its total holdings expand to 0.58 million shares valued at over $5.39 million and representing 1.33% of the shares outstanding. Morgan Stanley Instl. Fund Tr. – bought 0.23 million shares to bring its total holdings to over 0.58 million shares at a value of $5.34 million. Morgan Stanley Instl. Fund Tr. – now owns shares totaling to 1.32% of the shares outstanding.
Shares of Cricut Inc. (NASDAQ: CRCT) opened at $9.30, up $0.04 from a prior closing price of $9.26. However, the script later moved the day high at 9.62, up 2.81%. The company’s stock has a 5-day price change of 4.62% and -20.67% over the past three months. CRCT shares are trading 2.70% year to date (YTD), with the 12-month market performance down to -50.34% lower. It has a 12-month low price of $5.88 and touched a high of $20.82 over the same period. CRCT has an average intraday trading volume of 152.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.86%, 4.52%, and 8.61% respectively.
Institutional ownership of Cricut Inc. (NASDAQ: CRCT) shares accounts for 49.90% of the company’s 215.35M shares outstanding. Mutual fund holders own 38.16%, while other institutional holders and individual stakeholders account for 48.08% and 12.03% respectively.
It has a market capitalization of $2.03B. The stock’s trailing 12-month PE ratio is 34.12, while the earnings-per-share (ttm) stands at $0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.13% over the week and 5.74% over the month.
Analysts forecast that Cricut Inc. (CRCT) will achieve an EPS of $0.07 for the current quarter, $0.09 for the next quarter and $0.39 for 2023. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.50%, and 20.98% over the next financial year.
Looking at the support for the CRCT, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on March 09, 2022, with the firm’s price target at $38-$13. Barclays coverage for the Cricut Inc. (CRCT) stock in a research note released on October 01, 2021 offered a Underweight rating with a price target of $28. Barclays was of a view on August 17, 2021 that the stock is Equal Weight, while Morgan Stanley gave the stock Underweight rating on August 13, 2021, issuing a price target of $29. Goldman on their part issued Neutral rating on August 13, 2021.
