Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 60,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $5.62, for a total transaction of $337,200.00. Following the completion of the transaction, the chief executive officer owned 5,537,105 shares of the company’s stock, valued at approximately $31,118,530.10. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.68, for a total value of $340,800.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.61, for a total transaction of $336,600.00.
• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.79, for a total value of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.48, for a total value of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total transaction of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total transaction of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total transaction of $286,200.00.

Cricut Trading Up 2.1%

Shares of CRCT opened at $5.71 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 13.28 and a beta of 0.25. Cricut, Inc. has a 1-year low of $3.73 and a 1-year high of $6.93. The business’s 50-day moving average price is $5.31 and its 200 day moving average price is $4.61.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The company had revenue of $156.28 million during the quarter, compared to the consensus estimate of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. On average, research analysts predict that Cricut, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRCT. Zacks Research upgraded shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group started coverage on Cricut in a research report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price target for the company. Morgan Stanley reissued an “underweight” rating and set a $3.70 price objective on shares of Cricut in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.07.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Cricut in the 2nd quarter valued at approximately $2,409,000. Dimensional Fund Advisors LP grew its holdings in shares of Cricut by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock worth $3,687,000 after purchasing an additional 229,663 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Cricut during the 2nd quarter worth approximately $355,000. Bank of America Corp DE increased its position in shares of Cricut by 124.4% during the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock valued at $437,000 after purchasing an additional 64,737 shares during the period. Finally, Empowered Funds LLC boosted its stake in Cricut by 18.1% during the first quarter. Empowered Funds LLC now owns 420,595 shares of the company’s stock worth $1,573,000 after buying an additional 64,362 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

Cricut, Inc develops creative technology products that enable consumers to design and make personalized projects. Its ecosystem combines connected cutting, writing, scoring, and heat-transfer machines with digital design tools, project content, and a broad range of craft materials and accessories.

The company’s product portfolio includes Cricut smart cutting machines, such as the Explore, Maker, and Joy families, as well as heat-press equipment and related tools. These products are used for applications including apparel decoration, paper crafts, home décor, personalized gifts, signage, and other do-it-yourself projects.

Cricut also operates a digital platform that provides design software, ready-to-make projects, fonts, images, and subscription-based content.