The Abdiel Qualified Master Fund, a major owner of Cricut Inc (CRCT), recently added 42,558 shares to its holdings. The buy increased the fund’s ownership by 0.23 percent, and came to a total price of just over $1.1 million.
The fund has been a repeat buyer over the past few months, picking up nearly 900,000 shares since the start of September. A number of company insiders have been sellers prior to these repeat buys.
Overall, company insiders own nearly 15 percent of the company.
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The creativity platform has seen shares rise 53 percent since going public in the past year, beating the S&P 500 by nearly one-third. With both earnings and revenues up over 40 percent, it’s likely that the stock will continue to outperform.
Action to take: As a recently public company, shares are a long way off from paying a dividend. Shareholders who hold will likely see market-beating gains for years during the company’s high-growth phase.
For traders, the March $30 calls, last going for about $4.60, look like an attractive option play or a move higher in shares. The option is just out-of-the-money, and a continued move higher in shares should lead to mid-to-high double-digit returns in the months ahead. Traders can likely pull profits well before expiration.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.