Copeland Capital Management LLC Takes Position in Cricut, Inc. (NASDAQ:CRCT)

Copeland Capital Management LLC bought a new position in Cricut, Inc. (NASDAQ:CRCT) in the 4th quarter, Holdings Channel.com reports. The firm bought 11,098 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors have also added to or reduced their stakes in CRCT. R Squared Ltd purchased a new position in shares of Cricut in the 4th quarter worth about $36,000. Drive Wealth Management LLC bought a new position in shares of Cricut in the fourth quarter worth approximately $64,000. Exchange Traded Concepts LLC increased its stake in shares of Cricut by 4.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company’s stock worth $280,000 after buying an additional 2,272 shares during the period. SG Americas Securities LLC raised its holdings in Cricut by 26.3% during the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock valued at $123,000 after buying an additional 4,484 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Cricut by 141.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company’s stock valued at $105,000 after buying an additional 10,805 shares during the period. Institutional investors own 19.60% of the company’s stock.

Insider Activity at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.87, for a total value of $352,200.00. Following the sale, the chief executive officer now directly owns 3,897,038 shares of the company’s stock, valued at $22,875,613.06. This represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald B. Olsen sold 30,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the completion of the transaction, the executive vice president now owns 625,833 shares of the company’s stock, valued at approximately $3,273,106.59. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,549 shares of company stock worth $1,691,917 over the last 90 days. 18.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Cricut Stock Performance

Shares of CRCT stock opened at $5.37 on Monday. Cricut, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $8.40. The firm has a market cap of $1.15 billion, a P/E ratio of 19.18 and a beta of -0.01. The business’s 50 day moving average price is $5.72 and its 200-day moving average price is $5.97.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a net margin of 8.47% and a return on equity of 12.36%. The company had revenue of $167.89 million during the quarter, compared to the consensus estimate of $165.35 million. During the same quarter last year, the firm earned $0.08 EPS. As a group, equities analysts predict 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.