Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $103,540.01 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 20,833 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $4.97, for a total value of $103,540.01. Following the transaction, the chief executive officer directly owned 4,219,588 shares of the company’s stock, valued at $20,971,352.36. The trade was a 0.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.93, for a total value of $102,706.69.
• 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 transaction of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $5.09, for a total transaction 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 transaction 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 transaction of $97,581.88.
• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The stock was sold at an average price of $4.82, for a total transaction of $161,764.02.
• On Monday, November 24th, Arora Ashish sold 10,628 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total transaction of $50,695.56.
• On Friday, November 21st, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.83, for a total value of $289,800.00.
• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total value of $90,665.08.

Cricut Stock Down 0.4%

CRCT stock opened at $4.84 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.74 and a beta of 0.17. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.33. The stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.50.

Cricut (NASDAQ:CRCT) last released its earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 19.91% and a net margin of 11.31%.The firm had revenue of $170.44 million during the quarter, compared to analyst estimates of $156.93 million. As a group, analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a dividend yield of 412.0%. Cricut’s dividend payout ratio is currently 52.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Cricut in a report on Monday, December 29th. The Goldman Sachs Group lowered shares of Cricut from a “neutral” rating to a “sell” rating and decreased their price target for the company from $5.50 to $4.75 in a report on Thursday, October 16th. Finally, Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a report on Saturday, November 29th. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average target price of $4.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cricut by 3.6% in the third quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company’s stock worth $29,751,000 after acquiring an additional 163,602 shares in the last quarter. American Century Companies Inc. boosted its position in Cricut by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 1,544,659 shares of the company’s stock worth $10,457,000 after purchasing an additional 159,339 shares during the period. Geode Capital Management LLC boosted its position in Cricut by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company’s stock worth $9,449,000 after purchasing an additional 91,339 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Cricut by 51.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock valued at $8,675,000 after purchasing an additional 467,934 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Cricut by 76.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock valued at $5,700,000 after purchasing an additional 392,951 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

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.