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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.60, for a total value of $336,000.00. Following the completion of the transaction, the chief executive officer owned 4,147,105 shares of the company’s stock, valued at approximately $23,223,788. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Wednesday, August 19th, Arora Ashish 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.
• On Wednesday, August 5th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total value of $286,200.00.
• 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.

Cricut Price Performance

Shares of CRCT traded down $0.05 during midday trading on Wednesday, hitting $5.43. 1,053,373 shares of the company traded hands, compared to its average volume of 587,595. Cricut, Inc. has a one year low of $3.73 and a one year high of $6.93. The firm has a market cap of $1.14 billion, a P/E ratio of 12.63 and a beta of 0.19. The stock has a 50-day moving average of $4.77 and a 200-day moving average of $4.44.

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

Institutional Trading of Cricut

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in shares of 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 grew its position in Cricut by 57,811.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after acquiring an additional 5,203 shares in the last quarter. Royal Bank of Canada increased its stake in Cricut by 265.0% in the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock valued at $30,000 after acquiring an additional 5,928 shares during the last quarter. Guggenheim Capital LLC bought a new position in Cricut in the fourth quarter valued at $55,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Cricut during the third quarter valued at about $75,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.