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

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $5.68, for a total transaction of $340,800.00. Following the completion of the transaction, the chief executive officer directly owned 5,417,105 shares of the company’s stock, valued at approximately $30,769,156.40. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.62, for a total value of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was 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 value 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 transaction 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 stock was sold at an average price of $4.77, for a total value of $286,200.00.

Cricut Trading Up 2.1%

Cricut stock traded up $0.12 during midday trading on Thursday, hitting $5.71. The stock had a trading volume of 507,140 shares, compared to its average volume of 601,201. The business has a fifty day moving average price of $5.28 and a 200 day moving average price of $4.60. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93. The stock has a market cap of $1.20 billion, a P/E ratio of 13.28 and a beta of 0.25.

Cricut (NASDAQ:CRCT) last released 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 the consensus estimate of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. On average, equities analysts anticipate that Cricut, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Cricut

Several institutional investors have recently modified their holdings of CRCT. Dimensional Fund Advisors LP lifted its position in Cricut by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock valued at $3,687,000 after purchasing an additional 229,663 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Cricut by 2.7% in the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company’s stock valued at $3,288,000 after purchasing an additional 23,300 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Cricut by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 557,359 shares of the company’s stock valued at $2,085,000 after buying an additional 25,642 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Cricut by 18.1% during the first quarter. Empowered Funds LLC now owns 420,595 shares of the company’s stock worth $1,573,000 after buying an additional 64,362 shares during the period. Finally, Bank of America Corp DE increased its position in Cricut by 124.4% in the 1st quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock valued at $437,000 after acquiring an additional 64,737 shares during the period. Institutional investors own 19.60% of the company’s stock.

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.