Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $123,462.50 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 21,250 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $5.81, for a total transaction of $123,462.50. Following the completion of the sale, the chief executive officer directly owned 2,760,311 shares of the company’s stock, valued at $16,037,406.91. This trade represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.66, for a total transaction of $120,275.00.
• 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 shares were sold at an average price of $6.77, for a total value 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 value of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.16, for a total value of $130,900.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.75, for a total value of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.94, for a total value of $126,225.00.
• On Friday, August 15th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, August 13th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.58, for a total transaction of $118,575.00.

Cricut Price Performance

Shares of CRCT stock opened at $5.16 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 15.64 and a beta of 0.18. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $5.76.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $158.59 million. Cricut had a net margin of 10.09% and a return on equity of 16.49%. On average, sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cricut in a research report on Wednesday. Wall Street Zen downgraded shares of Cricut from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cricut has an average rating of “Reduce” and a consensus price target of $4.52.

Hedge Funds Weigh In On Cricut

Several hedge funds and other institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC boosted its holdings in shares of Cricut by 16.4% during the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company’s stock valued at $92,000 after acquiring an additional 1,917 shares during the period. First Trust Advisors LP boosted its stake 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 purchasing an additional 1,977 shares during the period. Osaic Holdings Inc. boosted its stake 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. XTX Topco Ltd boosted its position in shares of Cricut by 6.3% during the first quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock worth $288,000 after buying an additional 3,326 shares during the period. Finally, Swiss National Bank boosted its position in shares of Cricut by 3.8% during the second quarter. Swiss National Bank now owns 93,700 shares of the company’s stock worth $634,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds 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.