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 dated Wednesday, September 2nd. The shares were sold at an average price of $5.79, for a total value of $347,400.00. Following the transaction, the chief executive officer owned 5,717,105 shares in the company, valued at $33,102,037.95. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 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 shares were 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 stock was sold at an average price of $4.77, for a total transaction of $286,200.00.

Cricut Stock Up 1.6%

Shares of Cricut stock traded up $0.09 during trading on Thursday, reaching $5.85. The company’s stock had a trading volume of 788,607 shares, compared to its average volume of 600,979. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $6.93. The firm’s 50-day moving average is $5.05 and its two-hundred day moving average is $4.53. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 13.60 and a beta of 0.25.

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

Institutional Trading of Cricut

Several large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Cricut by 255.9% during the 2nd 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 grew its holdings 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 purchasing an additional 5,203 shares during the period. Royal Bank of Canada increased its stake in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock valued at $30,000 after purchasing an additional 5,928 shares in the last quarter. Guggenheim Capital LLC purchased a new position in shares of Cricut during the fourth quarter valued at approximately $55,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Cricut during the third quarter valued at approximately $75,000. Institutional investors own 19.60% of the company’s stock.

Wall Street Analyst Weigh In

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