Cricut (NASDAQ:CRCT) Shares Down 3% Following Insider Selling

Cricut, Inc. (NASDAQ:CRCT)’s stock price traded down 3% on Friday after an insider sold shares in the company. The company traded as low as $5.87 and last traded at $5.87. 111,866 shares were traded during mid-day trading, a decline of 83% from the average session volume of 661,403 shares. The stock had previously closed at $6.05.

Specifically, CEO Arora Ashish sold 21,250 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $5.94, for a total transaction of $126,225.00. Following the completion of the transaction, the chief executive officer now owns 3,780,840 shares in the company, valued at $22,458,189.60. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $6.31, for a total value of $134,087.50. Following the sale, the chief executive officer now owns 3,823,340 shares in the company, valued at approximately $24,125,275.40. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, November 6th.

Cricut Trading Down 2.0 %

The stock’s fifty day moving average is $5.94 and its 200 day moving average is $6.06. The company has a market capitalization of $1.27 billion, a P/E ratio of 21.18 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter in the previous year, the company earned $0.08 EPS. On average, analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

The company also recently declared a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC bought a new position in shares of Cricut during the third quarter worth $70,000. Arizona State Retirement System raised its stake in shares of Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after acquiring an additional 2,103 shares during the period. CWM LLC boosted its position in shares of Cricut by 23.9% during the third quarter. CWM LLC now owns 12,026 shares of the company’s stock valued at $83,000 after buying an additional 2,322 shares during the period. Quantbot Technologies LP purchased a new stake in Cricut in the third quarter worth $93,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Cricut by 252,185.7% during the second quarter. Nisa Investment Advisors LLC now owns 17,660 shares of the company’s stock worth $106,000 after acquiring an additional 17,653 shares during the period. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.