Arora Ashish Sells 21,250 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 21,250 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $5.66, for a total transaction of $120,275.00. Following the sale, the chief executive officer directly owned 2,717,811 shares in the company, valued at approximately $15,382,810.26. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.81, for a total value of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.42, for a total value 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 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 stock was 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 transaction 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 shares were 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 shares were sold at an average price of $5.58, for a total transaction of $118,575.00.

Cricut Stock Down 4.4%

CRCT stock opened at $5.42 on Friday. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33. The firm has a 50-day simple moving average of $5.95 and a 200-day simple moving average of $5.76. The stock has a market capitalization of $1.15 billion, a P/E ratio of 16.42 and a beta of 0.18.

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

Hedge Funds Weigh In On Cricut

A number of institutional investors have recently added to or reduced their stakes in CRCT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cricut by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,035 shares of the company’s stock worth $639,000 after buying an additional 24,507 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Cricut during the 1st quarter worth $134,000. Bank of New York Mellon Corp grew its holdings in shares of Cricut by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock valued at $2,502,000 after purchasing an additional 9,300 shares during the period. MQS Management LLC purchased a new stake in shares of Cricut in the first quarter valued at about $59,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Cricut during the first quarter worth about $541,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts 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 lowered shares of Cricut from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.52.

About Cricut

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.