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

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $5.62, for a total transaction of $337,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,537,105 shares of the company’s stock, valued at approximately $31,118,530.10. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $5.98, for a total transaction of $358,800.00.
• On Monday, August 3rd, Ashish Arora 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.

Cricut Price Performance

Shares of CRCT opened at $5.64 on Friday. The stock’s 50-day moving average is $5.33 and its two-hundred day moving average is $4.62. The stock has a market cap of $1.18 billion, a PE ratio of 13.12 and a beta of 0.25. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93.

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

Institutional Trading of Cricut

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its position in Cricut by 57,811.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after buying an additional 5,203 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Cricut by 265.0% in the 1st 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 in the last quarter. Diversified Trust Co acquired a new stake in shares of Cricut in the first quarter worth $67,000. AXQ Capital LP acquired a new position in Cricut during the 2nd quarter worth $74,000. Finally, E6 Portfolios LLC bought a new stake in Cricut during the 4th quarter valued at approximately $75,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley restated an “underweight” rating and set a $3.70 price objective on shares of Cricut in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group started coverage on Cricut in a report on Wednesday, August 19th. They set a “sell” rating and a $4.50 price target on the stock. Finally, Zacks Research raised Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research 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 currently has an average rating of “Reduce” and an average price target of $4.07.

Cricut Company Profile

Cricut, Inc develops creative technology products that enable consumers to design and make personalized projects. Its ecosystem combines connected cutting, writing, scoring, and heat-transfer machines with digital design tools, project content, and a broad range of craft materials and accessories.

The company’s product portfolio includes Cricut smart cutting machines, such as the Explore, Maker, and Joy families, as well as heat-press equipment and related tools. These products are used for applications including apparel decoration, paper crafts, home décor, personalized gifts, signage, and other do-it-yourself projects.

Cricut also operates a digital platform that provides design software, ready-to-make projects, fonts, images, and subscription-based content.