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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.95, for a total value of $237,000.00. Following the sale, the chief executive officer directly owned 4,461,592 shares in the company, valued at approximately $17,623,288.40. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Tuesday, March 3rd, Arora Ashish sold 13,458 shares of Cricut stock. The shares were sold at an average price of $4.25, for a total value of $57,196.50.
• On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.28, for a total value of $256,800.00.
• 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 value of $265,200.00.

Cricut Stock Performance

Shares of CRCT opened at $3.98 on Friday. The stock has a market cap of $835.40 million, a PE ratio of 11.37 and a beta of 0.22. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $7.33. The firm’s 50-day simple moving average is $4.17 and its two-hundred day simple moving average is $4.51.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $164.33 million. Cricut had a net margin of 10.36% and a return on equity of 21.37%. Equities research analysts predict that Cricut, Inc. will post 0.14 EPS for the current year.

Cricut Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.10 dividend. This represents a yield of 474.0%. The ex-dividend date is Tuesday, July 7th. Cricut’s dividend payout ratio is 57.14%.

Institutional Investors Weigh In On Cricut

A number of institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Cricut by 1.3% during the second quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after buying an additional 1,977 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Cricut by 8.2% during the third quarter. Royce & Associates LP now owns 28,583 shares of the company’s stock valued at $180,000 after buying an additional 2,176 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Cricut by 6.0% during the fourth quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock valued at $208,000 after buying an additional 2,374 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after buying an additional 2,620 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Cricut by 6.0% during the third quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after buying an additional 3,566 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CRCT. The Goldman Sachs Group restated a “sell” rating and issued a $3.75 price objective on shares of Cricut in a report on Wednesday, May 6th. Barclays restated an “underweight” rating and issued a $4.00 price objective on shares of Cricut in a report on Wednesday, March 4th. UBS Group restated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Finally, Weiss Ratings cut shares of Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Cricut has a consensus rating of “Strong Sell” and a consensus price target of $3.88.

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.