Cricut (NASDAQ:CRCT) CEO Sells $279,000.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $4.65, for a total transaction of $279,000.00. Following the sale, the chief executive officer owned 3,918,453 shares in the company, valued at approximately $18,220,806.45. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arora Ashish also recently made the following trade(s):

• On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.42, for a total transaction of $265,200.00.
• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.93, for a total transaction of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total value of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.94, for a total value of $102,915.02.
• On Monday, December 22nd, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.12, for a total value of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.09, for a total value of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total value of $105,831.18.
• On Wednesday, November 26th, Arora Ashish sold 20,372 shares of Cricut stock. The shares were sold at an average price of $4.79, for a total value of $97,581.88.
• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The shares were sold at an average price of $4.82, for a total transaction of $161,764.02.

Cricut Stock Performance

Shares of NASDAQ CRCT opened at $4.35 on Thursday. The company’s 50 day moving average price is $4.67 and its 200-day moving average price is $5.21. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.33. The company has a market capitalization of $921.07 million, a P/E ratio of 11.45 and a beta of 0.17.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRCT. Osaic Holdings Inc. grew its stake in 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Cricut in the 3rd quarter worth $68,000. Guggenheim Capital LLC acquired a new stake in Cricut in the 4th quarter valued at $55,000. Olympiad Research LP bought a new stake in Cricut during the 3rd quarter valued at $74,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Cricut during the second quarter worth $80,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRCT. The Goldman Sachs Group decreased their price target on Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. Four equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $3.60.

Cricut Company Profile

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.