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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.60, for a total value of $336,000.00. Following the transaction, the chief executive officer owned 4,147,105 shares of the company’s stock, valued at $23,223,788. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.48, for a total transaction of $328,800.00.
• On Wednesday, August 5th, Arora Ashish 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, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $286,200.00.
• On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The stock was sold at an average price of $4.30, for a total transaction of $70,373.80.

Cricut Price Performance

CRCT stock opened at $5.40 on Friday. The company’s 50-day moving average is $4.81 and its 200-day moving average is $4.45. The stock has a market capitalization of $1.13 billion, a PE ratio of 12.56 and a beta of 0.19. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $6.93.

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

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its stake in shares of Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after purchasing an additional 2,620 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Cricut by 57,811.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after buying an additional 5,203 shares during the period. Royal Bank of Canada grew its position in 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 buying an additional 5,928 shares during the period. Guggenheim Capital LLC bought a new stake in Cricut in the fourth quarter worth about $55,000. Finally, Orion Porfolio Solutions LLC purchased a new position in Cricut in the fourth quarter valued at about $63,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRCT has been the topic of a number of recent research reports. Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. The Goldman Sachs Group assumed coverage on Cricut in a report on Wednesday. They set a “sell” rating and a $4.50 price target for the company. Zacks Research raised Cricut from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Cricut has a consensus rating of “Reduce” and an average target price 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.