Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 60,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.60, for a total transaction of $336,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,147,105 shares in the company, valued at $23,223,788. This represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arora Ashish also recently made the following trade(s):

• On Wednesday, August 19th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total value of $328,800.00.
• On Wednesday, August 5th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total transaction of $286,200.00.
• On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The shares were sold at an average price of $4.30, for a total transaction of $70,373.80.

Cricut Trading Down 0.9%

NASDAQ CRCT opened at $5.43 on Thursday. The company has a 50-day moving average price of $4.79 and a two-hundred day moving average price of $4.45. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.93. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 12.63 and a beta of 0.19.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.13. Cricut had a return on equity of 24.57% and a net margin of 12.71%.The business had revenue of $156.28 million during the quarter, compared to the consensus estimate of $159.95 million. As a group, equities research analysts expect that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CRCT shares. Zacks Research upgraded shares of Cricut from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group started coverage on shares of Cricut in a research note on Wednesday. They set a “sell” rating and a $4.50 price objective on the stock. Morgan Stanley restated an “underweight” rating and issued a $3.70 target price on shares of Cricut in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $4.07.

Institutional Investors Weigh In On Cricut

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Cricut by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock valued at $3,687,000 after buying an additional 229,663 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Cricut in the 3rd quarter valued at approximately $88,000. Corient Private Wealth LLC boosted its stake in Cricut by 34.6% in the 4th quarter. Corient Private Wealth LLC now owns 16,917 shares of the company’s stock worth $84,000 after purchasing an additional 4,349 shares during the period. Envestnet Asset Management Inc. purchased a new position in Cricut during the 3rd quarter worth approximately $78,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Cricut in the third quarter valued at $75,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

About Cricut

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.