Cricut (NASDAQ:CRCT) CEO Sells $50,695.56 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 10,628 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $4.77, for a total transaction of $50,695.56. Following the completion of the transaction, the chief executive officer directly owned 4,419,813 shares of the company’s stock, valued at approximately $21,082,508.01. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The stock was sold at an average price of $4.82, for a total value of $161,764.02.
• On Friday, November 21st, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.83, for a total value of $289,800.00.
• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total value of $90,665.08.
• On Thursday, October 16th, Arora Ashish sold 11,211 shares of Cricut stock. The shares were sold at an average price of $5.27, for a total value of $59,081.97.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.47, for a total value of $116,237.50.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.66, for a total value of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.81, for a total transaction of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.42, for a total transaction of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.77, for a total transaction of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.36, for a total transaction of $135,150.00.

Cricut Price Performance

Shares of CRCT opened at $4.75 on Friday. The firm has a 50 day simple moving average of $5.36 and a 200-day simple moving average of $5.78. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 12.50 and a beta of 0.17.

Cricut (NASDAQ:CRCT) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $170.44 million for the quarter, compared to analyst estimates of $156.93 million. Cricut had a return on equity of 19.91% and a net margin of 11.31%. On average, equities analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a yield of 399.0%. Cricut’s payout ratio is presently 52.63%.

Hedge Funds Weigh In On Cricut

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after acquiring an additional 2,620 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cricut during the third quarter worth $68,000. Olympiad Research LP acquired a new position in shares of Cricut during the third quarter worth $74,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Cricut in the third quarter valued at $75,000. Finally, RFG Advisory LLC acquired a new stake in Cricut during the 3rd quarter valued at $75,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CRCT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cricut in a research note on Tuesday. The Goldman Sachs Group downgraded shares of Cricut from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $5.50 to $4.75 in a research note on Thursday, October 16th. Finally, Wall Street Zen raised shares of Cricut from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $4.18.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.