Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 16,366 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 16,366 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $4.30, for a total value of $70,373.80. Following the completion of the sale, the chief executive officer owned 4,325,226 shares in the company, valued at approximately $18,598,471.80. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, May 20th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $3.95, for a total value of $237,000.00.

Cricut Price Performance

CRCT opened at $4.11 on Thursday. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $7.33. The stock has a market cap of $862.69 million, a P/E ratio of 11.74 and a beta of 0.22. The stock’s 50 day moving average price is $4.18 and its 200 day moving average price is $4.47.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 21.37% and a net margin of 10.36%.The company had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $164.33 million. Equities analysts anticipate that Cricut, Inc. will post 0.14 EPS for the current year.

Cricut Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 7th. This represents a dividend yield of 474.0%. Cricut’s dividend payout ratio (DPR) is 57.14%.

Institutional Trading of Cricut

A number of institutional investors have recently bought and sold shares of CRCT. Osaic Holdings Inc. boosted its position in Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after purchasing an additional 2,620 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Cricut by 57,811.1% during the fourth 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 last quarter. Royal Bank of Canada boosted its position in Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock valued at $30,000 after purchasing an additional 5,928 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Cricut during the fourth quarter valued at $55,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Cricut in the fourth quarter worth about $63,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRCT. UBS Group restated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group restated a “sell” rating and set a $3.75 price objective on shares of Cricut in a research report on Wednesday, May 6th. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Barclays restated an “underweight” rating and set a $4.00 price objective on shares of Cricut in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average price target of $3.88.

Cricut Company Profile

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.