Insider Trading Report: Cricut (CRCT)

The Abdiel Qualified Master Fund, a major holder in Cricut (CRCT), recently added 123,291 shares. The buy increased the fund’s stake by 1.5 percent, and came to a total purchase price of just over $4.1 million.

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  • That adds to other buys from the fund in recent months, taking them from over 4.1 million total shares to 8.4 million shares. Some company insiders were sellers of shares back in April, although shares have rallied 83 percent since then.

    Overall, company insiders own 10.6 percent of shares. Cricut designs and markets a creativity platform that allows users to create custom items. Overall, shares are up 90 percent since the company went public in March.

    While not currently profitable, the company saw revenues rise 125 percent in the past year and earnings rally nearly 280 percent.

    Action to take: While the company has a limited trading history, it appears to be a successful IPO, given its relatively steady rise since going public. Investors may like shares, as the trend is likely to continue in the months ahead.

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  • Although the company has a market cap of nearly $9 billion, there are currently no options to trade right now, so traders would have to buy shares to play the current uptrend.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.