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 stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $6.31, for a total value of $378,600.00. Following the completion of the sale, the chief executive officer owned 5,028,740 shares in the company, valued at approximately $31,731,349.40. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 23rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.26, for a total value of $375,600.00.
• On Monday, October 5th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.43, for a total value of $385,800.00.
• On Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.50, for a total value of $390,000.00.
• 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 Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.62, for a total value of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.61, for a total value 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 transaction of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total transaction of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were 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.

Cricut Stock Down 2.5%

Shares of Cricut stock opened at $6.25 on Friday. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $6.82. The company has a 50 day moving average of $5.98 and a 200 day moving average of $5.02. The company has a market capitalization of $1.31 billion, a P/E ratio of 14.54 and a beta of 0.25.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CRCT shares. The Goldman Sachs Group assumed coverage on Cricut in a research note on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price target on the stock. Weiss Ratings raised Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.70 price objective on shares of Cricut in a research report on Wednesday, August 5th. Finally, Zacks Research downgraded Cricut from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average price target of $4.07.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRCT. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 229,663 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cricut by 2.7% in the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company’s stock valued at $3,288,000 after acquiring an additional 23,300 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Cricut in the second quarter valued at $2,409,000. Empowered Funds LLC boosted its stake in Cricut by 18.1% in the first quarter. Empowered Funds LLC now owns 420,595 shares of the company’s stock valued at $1,573,000 after acquiring an additional 64,362 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock valued at $437,000 after acquiring an additional 64,737 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

Cricut, Inc develops and sells connected cutting machines and related products for do-it-yourself crafting, personalization and small-scale creative production. Its systems are designed to cut, draw, score and apply materials such as paper, vinyl, fabric, leather and iron-on transfers, enabling users to create customized home décor, apparel, gifts and other projects.

The company’s product portfolio includes Cricut smart cutting machines, heat presses, specialized tools and a broad range of consumable materials.