Cricut (NASDAQ:CRCT) CEO Sells $385,800.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $6.43, for a total value of $385,800.00. Following the transaction, the chief executive officer directly owned 5,088,740 shares in the company, valued at $32,720,598.20. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.50, for a total value of $390,000.00.
• On Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.68, for a total value of $340,800.00.
• On Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.62, for a total value of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.61, for a total transaction of $336,600.00.
• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.79, for a total transaction of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total transaction of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total transaction of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total transaction of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total transaction of $286,200.00.

Cricut Trading Down 0.3%

Shares of CRCT stock opened at $6.36 on Thursday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 14.79 and a beta of 0.25. The firm’s 50 day moving average is $5.76 and its 200 day moving average is $4.81. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.66.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The business had revenue of $156.28 million during the quarter, compared to analyst estimates of $159.95 million. On average, equities analysts predict that Cricut, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Cricut by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock worth $3,687,000 after purchasing an additional 229,663 shares during the period. Renaissance Technologies LLC raised its position in shares of Cricut by 2.7% in the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company’s stock worth $3,288,000 after buying an additional 23,300 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Cricut during the second quarter valued at $2,409,000. Empowered Funds LLC boosted its stake in Cricut by 18.1% during the first quarter. Empowered Funds LLC now owns 420,595 shares of the company’s stock valued at $1,573,000 after buying an additional 64,362 shares during the period. Finally, Bank of America Corp DE grew its position in Cricut by 124.4% during the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock worth $437,000 after buying an additional 64,737 shares in the last quarter. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group started coverage on Cricut in a report on Wednesday, August 19th. 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 note on Wednesday, August 5th. Finally, Zacks Research lowered Cricut from a “strong-buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cricut currently has a consensus rating of “Strong Sell” and an average price target of $4.07.

Cricut Company Profile

Cricut, Inc develops and sells digital crafting technology that enables users to design, make and personalize projects. Its ecosystem includes connected cutting, heat-press, engraving and other crafting machines, along with the company’s Design Space software, which allows users to create projects, prepare designs and operate compatible devices.

The company also offers a broad selection of consumable materials and accessories, including vinyl, iron-on materials, paper, specialty fabrics, cutting tools, replacement components and related crafting supplies.