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

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $5.61, for a total transaction of $336,600.00. Following the sale, the chief executive officer directly owned 5,597,105 shares of the company’s stock, valued at $31,399,759.05. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 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 value 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 value 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 value of $358,800.00.
• On Monday, August 3rd, Ashish Arora 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.

Cricut Price Performance

Shares of CRCT stock opened at $5.43 on Thursday. The stock’s fifty day moving average price is $5.16 and its 200 day moving average price is $4.56. Cricut, Inc. has a 1-year low of $3.73 and a 1-year 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 0.25.

Cricut (NASDAQ:CRCT) last released 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 return on equity of 24.57% and a net margin of 12.71%.The company had revenue of $156.28 million during the quarter, compared to analysts’ expectations of $159.95 million. As a group, equities research analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CRCT shares. The Goldman Sachs Group started coverage on shares of Cricut in a research note on Wednesday, August 19th. They set a “sell” rating and a $4.50 price target on the stock. Weiss Ratings raised shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Zacks Research upgraded Cricut from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $3.70 price target on shares of Cricut in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cricut currently has a consensus rating of “Reduce” and an average price target of $4.07.

Institutional Investors Weigh In On Cricut

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Cricut by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company’s stock worth $29,751,000 after purchasing an additional 163,602 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cricut by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,417,153 shares of the company’s stock valued at $7,016,000 after purchasing an additional 31,736 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after buying an additional 467,934 shares in the last quarter. State Street Corp boosted its holdings in Cricut by 0.9% during the fourth quarter. State Street Corp now owns 1,220,292 shares of the company’s stock worth $6,040,000 after buying an additional 11,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Cricut by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock valued at $3,687,000 after buying an additional 229,663 shares during the period. Hedge funds and other 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.