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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $3.95, for a total value of $237,000.00. Following the completion of the transaction, the chief executive officer owned 4,461,592 shares of the company’s stock, valued at $17,623,288.40. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Tuesday, March 3rd, Arora Ashish sold 13,458 shares of Cricut stock. The stock was sold at an average price of $4.25, for a total value of $57,196.50.
• On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.28, for a total value of $256,800.00.
• On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.42, for a total transaction of $265,200.00.

Cricut Trading Up 1.0%

Shares of CRCT stock traded up $0.04 during trading hours on Thursday, hitting $4.01. 356,740 shares of the company’s stock were exchanged, compared to its average volume of 553,193. The company has a market capitalization of $841.69 million, a PE ratio of 11.46 and a beta of 0.22. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $7.33. The business’s 50 day simple moving average is $4.17 and its 200-day simple moving average is $4.53.

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

Cricut Dividend Announcement

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

Institutional Investors Weigh In On Cricut

Several institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in Cricut by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after buying an additional 1,977 shares during the period. Royce & Associates LP boosted its position in Cricut by 8.2% during the 3rd quarter. Royce & Associates LP now owns 28,583 shares of the company’s stock valued at $180,000 after buying an additional 2,176 shares during the period. Deutsche Bank AG increased its holdings in Cricut by 6.0% during the 4th quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock valued at $208,000 after purchasing an additional 2,374 shares during the period. Osaic Holdings Inc. increased its holdings in Cricut by 255.9% during the 2nd 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 period. Finally, Legal & General Group Plc increased its holdings in Cricut by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after purchasing an additional 3,566 shares during the period. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analyst Ratings Changes

CRCT has been the subject of several analyst reports. Barclays restated an “underweight” rating and set a $4.00 price target on shares of Cricut in a research report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $3.75 price target on shares of Cricut in a research note on Wednesday, May 6th. UBS Group reaffirmed a “cautious” rating on shares of Cricut in a research note on Wednesday, March 4th. Finally, Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Sell rating, According to MarketBeat, Cricut currently has an average rating of “Strong Sell” and a consensus target price 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.