Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $375,600.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $6.26, for a total value of $375,600.00. Following the completion of the transaction, the chief executive officer directly owned 4,908,740 shares of the company’s stock, valued at approximately $30,728,712.40. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.31, for a total transaction of $378,600.00.
• On Monday, October 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.43, for a total transaction of $385,800.00.
• On Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.50, for a total transaction 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 transaction of $340,800.00.
• On Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.62, for a total transaction of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was 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 shares were sold at an average price of $5.79, for a total value of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.48, for a total value of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.60, for a total value of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.98, for a total value of $358,800.00.

Cricut Stock Performance

NASDAQ:CRCT traded down $0.16 during trading hours on Friday, reaching $6.25. The stock had a trading volume of 553,877 shares, compared to its average volume of 608,065. The stock has a market cap of $1.31 billion, a P/E ratio of 14.54 and a beta of 0.25. The stock has a 50 day simple moving average of $5.97 and a 200 day simple moving average of $5.01. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $6.82.

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

Analyst Ratings Changes

CRCT has been the topic of a number of research reports. Zacks Research cut Cricut from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Morgan Stanley reiterated an “underweight” rating and set a $3.70 target price on shares of Cricut in a research report on Wednesday, August 5th. The Goldman Sachs Group started coverage on shares of Cricut in a research note on Wednesday, August 19th. They issued a “sell” rating and a $4.50 target price for the company. Finally, Weiss Ratings raised shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $4.07.

Institutional Trading of Cricut

A number of hedge funds and other institutional investors have recently made changes to their positions in CRCT. Caitong International Asset Management Co. Ltd raised its stake in shares of Cricut by 57,811.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after purchasing an additional 5,203 shares during the period. Royal Bank of Canada boosted its stake in Cricut by 265.0% in the 1st quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after purchasing an additional 5,928 shares during the period. Signaturefd LLC bought a new position in Cricut in the 3rd quarter worth about $43,000. AXQ Capital LP bought a new position in Cricut in the 2nd quarter worth about $74,000. Finally, Diversified Trust Co purchased a new position in Cricut during the 1st quarter valued at about $67,000. 19.60% of the stock is currently owned by institutional investors.

Cricut Company Profile

Cricut, Inc develops and sells connected cutting machines and related products for do-it-yourself crafting, personalization and small-scale creative production. Its systems are designed to cut, draw, score and apply materials such as paper, vinyl, fabric, leather and iron-on transfers, enabling users to create customized home décor, apparel, gifts and other projects.

The company’s product portfolio includes Cricut smart cutting machines, heat presses, specialized tools and a broad range of consumable materials.