Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 70,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 70,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $8.95, for a total transaction of $626,500.00. Following the completion of the transaction, the chief executive officer directly owned 4,838,740 shares in the company, valued at $43,306,723. The trade was a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Friday, November 13th, Ashish Arora sold 70,000 shares of Cricut stock. The stock was sold at an average price of $8.58, for a total transaction of $600,600.00.
• On Friday, October 23rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.26, for a total transaction of $375,600.00.
• On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.31, for a total value 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 value 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 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 stock was 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 value 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.

Cricut Stock Up 1.8%

NASDAQ:CRCT traded up $0.15 on Friday, reaching $8.65. 975,590 shares of the company’s stock were exchanged, compared to its average volume of 1,383,117. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 18.80 and a beta of 0.24. The business has a fifty day moving average of $6.54 and a 200-day moving average of $5.04. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $9.70.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. Cricut had a net margin of 13.42% and a return on equity of 25.88%. The business had revenue of $188.62 million for the quarter, compared to analysts’ expectations of $172.02 million. As a group, equities analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.

Cricut Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, January 21st. Investors of record on Thursday, January 7th will be paid a dividend of $0.10 per share. This represents a yield of 228.0%. The ex-dividend date of this dividend is Thursday, January 7th. Cricut’s dividend payout ratio is presently 43.48%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in shares of Cricut in the third quarter valued at approximately $43,000. Royal Bank of Canada grew its position in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after acquiring an additional 5,928 shares during the last quarter. Ethic Inc. acquired a new position in shares of Cricut in the 3rd quarter valued at $71,000. Virtus Advisers LLC acquired a new position in shares of Cricut in the 3rd quarter valued at $73,000. Finally, AXQ Capital LP acquired a new position in shares of Cricut in the 2nd quarter valued at $74,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Cricut in a research report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price target for the company. Barclays upped their price objective on Cricut from $4.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, November 5th. Morgan Stanley reiterated an “underweight” rating and issued a $3.70 price objective on shares of Cricut in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Cricut from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, Weiss Ratings upgraded shares of Cricut from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of $4.73.

About Cricut

Cricut, Inc. provides a platform of products and services for people who create personalized projects. Its offerings include connected cutting machines, heat presses, tools and materials used to make items such as cards, home décor, apparel and gifts. The company also offers Design Space, a digital design application that lets users create or customize projects and send them to compatible Cricut machines. Optional subscription services provide access to additional designs and other creative content.