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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $5.48, for a total transaction of $328,800.00. Following the transaction, the chief executive officer directly owned 4,027,105 shares in the company, valued at $22,068,535.40. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Monday, August 17th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total value of $336,000.00.
• 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 transaction of $358,800.00.
• On Monday, August 3rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total transaction of $286,200.00.
• On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The stock was sold at an average price of $4.30, for a total transaction of $70,373.80.

Cricut Trading Down 0.9%

Cricut stock opened at $5.43 on Thursday. The business’s 50 day simple moving average is $4.79 and its 200 day simple moving average is $4.45. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 12.63 and a beta of 0.19.

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

Analyst Upgrades and Downgrades

CRCT has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Cricut in a report on Wednesday. They set a “sell” rating and a $4.50 price objective on the stock. Zacks Research raised shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Morgan Stanley restated an “underweight” rating and set a $3.70 target price on shares of Cricut in a research report on Wednesday, August 5th. 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. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $4.07.

Institutional Investors Weigh In On Cricut

A number of institutional investors and hedge funds have recently modified their holdings of CRCT. Osaic Holdings Inc. boosted its position in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after acquiring an additional 2,620 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Cricut by 57,811.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after buying an additional 5,203 shares during the period. Royal Bank of Canada grew its position in Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after buying an additional 5,928 shares in the last quarter. Guggenheim Capital LLC purchased a new position in Cricut during the fourth quarter worth about $55,000. Finally, Orion Porfolio Solutions LLC bought a new position in Cricut in the 4th quarter worth about $63,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

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.