Cricut (NASDAQ:CRCT) CEO Sells $286,200.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $4.77, for a total value of $286,200.00. Following the completion of the transaction, the chief executive officer owned 4,327,105 shares in the company, valued at approximately $20,640,290.85. The trade was a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Wednesday, August 5th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The shares were sold at an average price of $4.30, for a total value of $70,373.80.
• On Wednesday, May 20th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $3.95, for a total value of $237,000.00.

Cricut Stock Down 3.8%

Shares of CRCT opened at $5.84 on Friday. The business’s fifty day moving average is $4.56 and its 200 day moving average is $4.37. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $6.93. The stock has a market cap of $1.23 billion, a P/E ratio of 13.58 and a beta of 0.19.

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

Analyst Ratings Changes

A number of research firms 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. Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Morgan Stanley reissued an “underweight” rating and set a $3.70 price objective on shares of Cricut in a report on Wednesday. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $3.75 target price on shares of Cricut in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $3.82.

Institutional Trading of Cricut

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Cricut by 1.3% in the second quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after acquiring an additional 1,977 shares in the last quarter. Deutsche Bank AG lifted its holdings in Cricut by 6.0% during the fourth quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock worth $208,000 after acquiring an additional 2,374 shares during the period. Osaic Holdings Inc. boosted its position in Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after purchasing an additional 2,620 shares during the last quarter. Legal & General Group Plc grew its stake in Cricut by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after purchasing an additional 3,566 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Cricut by 16.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,992 shares of the company’s stock valued at $126,000 after purchasing an additional 3,597 shares during the last quarter. Institutional investors own 19.60% of the company’s stock.

About Cricut

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.