Cricut (NASDAQ:CRCT) CEO Sells $256,800.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $4.28, for a total value of $256,800.00. Following the completion of the transaction, the chief executive officer directly owned 3,738,453 shares in the company, valued at approximately $16,000,578.84. This represents a 1.58% decrease in their ownership of the stock. The sale 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 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, 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 value of $265,200.00.
• On Thursday, February 19th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.65, for a total transaction of $279,000.00.
• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.93, for a total value of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total value of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.94, for a total value of $102,915.02.
• On Monday, December 22nd, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.12, for a total value of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $5.09, for a total value of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total value of $105,831.18.

Cricut Stock Down 2.2%

CRCT stock opened at $4.05 on Friday. The company has a market cap of $857.55 million, a PE ratio of 11.25 and a beta of 0.17. The business has a 50-day simple moving average of $4.56 and a 200 day simple moving average of $5.15. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $202.22 million. Cricut had a net margin of 10.82% and a return on equity of 20.44%. On average, analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Cricut

Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after acquiring an additional 2,620 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Cricut by 57,811.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after acquiring an additional 5,203 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Cricut during the third quarter valued at $68,000. Guggenheim Capital LLC acquired a new position in shares of Cricut during the fourth quarter worth $55,000. Finally, Olympiad Research LP acquired a new position in shares of Cricut during the third quarter worth $74,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRCT shares. Wall Street Zen cut Cricut from a “buy” rating to a “hold” rating in a research note on Saturday, November 29th. Weiss Ratings raised shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. The Goldman Sachs Group lowered their price objective on shares of Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. Barclays restated an “underweight” rating and issued a $4.00 target price on shares of Cricut in a research report on Wednesday. Finally, UBS Group reaffirmed a “cautious” rating on shares of Cricut in a research note on Wednesday. One research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $3.67.

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.