Cricut (NASDAQ:CRCT) CEO Sells $626,500.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 70,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $8.95, for a total transaction of $626,500.00. Following the transaction, the chief executive officer directly owned 4,838,740 shares of the company’s stock, valued at $43,306,723. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, November 13th, Ashish Arora sold 70,000 shares of Cricut stock. The stock was sold at an average price of $8.58, for a total value of $600,600.00.
• On Friday, October 23rd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.26, for a total value of $375,600.00.
• On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.31, for a total value of $378,600.00.
• 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 shares were 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 shares were 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 shares were 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 value 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 value of $328,800.00.

Cricut Stock Performance

Shares of CRCT traded up $0.15 during mid-day trading on Friday, hitting $8.65. 975,590 shares of the stock were exchanged, compared to its average volume of 679,374. The company has a market cap of $1.81 billion, a PE ratio of 18.80 and a beta of 0.24. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $9.70. The firm has a 50-day moving average of $6.49 and a two-hundred day moving average of $5.02.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, November 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. Cricut had a net margin of 13.42% and a return on equity of 25.88%. The firm had revenue of $188.62 million during the quarter, compared to analyst estimates of $172.02 million. On average, sell-side analysts predict that Cricut, Inc. will post 0.32 EPS for the current year.

Cricut Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, January 21st. Investors of record on Thursday, January 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 7th. This represents a yield of 228.0%. Cricut’s dividend payout ratio is presently 43.48%.

Institutional Trading of Cricut

Several hedge funds and other institutional investors have recently bought and sold shares of CRCT. Bank of New York Mellon Corp bought a new stake in Cricut in the second quarter worth $2,409,000. Dimensional Fund Advisors LP boosted its stake in Cricut by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock worth $3,687,000 after buying an additional 229,663 shares during the period. Alps Advisors Inc. purchased a new position in Cricut during the third quarter worth $655,000. Public Employees Retirement System of Ohio purchased a new position in Cricut during the second quarter worth $355,000. Finally, Bank of America Corp DE increased its position in 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 acquiring an additional 64,737 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Wall Street Analyst Weigh In

CRCT has been the subject of several research reports. Wall Street Zen upgraded shares of Cricut from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Morgan Stanley restated an “underweight” rating and issued a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. The Goldman Sachs Group began coverage on shares of Cricut in a research report on Wednesday, August 19th. They set a “sell” rating and a $4.50 target price on the stock. Zacks Research downgraded shares of Cricut from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded Cricut from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, November 3rd. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $4.73.

Cricut Company Profile

Cricut, Inc. provides a platform of products and services for people who create personalized projects. Its offerings include connected cutting machines, heat presses, tools and materials used to make items such as cards, home décor, apparel and gifts. The company also offers Design Space, a digital design application that lets users create or customize projects and send them to compatible Cricut machines. Optional subscription services provide access to additional designs and other creative content.