Cricut (NASDAQ:CRCT) CEO Sells $336,600.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $5.61, for a total transaction of $336,600.00. Following the transaction, the chief executive officer directly owned 5,597,105 shares of the company’s stock, valued at $31,399,759.05. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were 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 stock was 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 Trading Up 0.6%

CRCT opened at $5.46 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of 12.70 and a beta of 0.25. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $6.93. The stock’s 50 day simple moving average is $5.18 and its 200-day simple moving average is $4.57.

Cricut (NASDAQ:CRCT) last issued its 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. The business had revenue of $156.28 million during the quarter, compared to analyst estimates of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. Equities analysts forecast that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cricut

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in shares of Cricut by 374.5% during the fourth quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock worth $4,863,000 after purchasing an additional 775,330 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cricut in the second quarter valued at $2,409,000. Algert Global LLC raised its holdings in shares of Cricut by 354.9% in the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock valued at $3,873,000 after buying an additional 480,364 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cricut by 51.4% during the 3rd 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. Finally, Jacobs Levy Equity Management Inc. lifted its position in Cricut by 76.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock worth $5,700,000 after buying an additional 392,951 shares in the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.