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 on Monday, February 23rd. The shares were sold at an average price of $4.42, for a total value of $265,200.00. Following the completion of the sale, the chief executive officer owned 3,798,453 shares in the company, valued at $16,789,162.26. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 19th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.65, for a total value of $279,000.00.
• 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 transaction of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total transaction of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.94, for a total transaction 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 shares were 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 stock was sold at an average price of $4.79, for a total value 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 value of $161,764.02.

Cricut Stock Down 4.5%

NASDAQ CRCT traded down $0.21 during trading on Monday, hitting $4.41. The stock had a trading volume of 606,228 shares, compared to its average volume of 540,252. The company has a market capitalization of $933.77 million, a PE ratio of 11.61 and a beta of 0.17. The firm has a 50 day moving average price of $4.72 and a 200 day moving average price of $5.23. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings in Cricut by 255.9% in the second 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 last quarter. Guggenheim Capital LLC bought a new stake in Cricut during the fourth quarter valued at about $55,000. Orion Porfolio Solutions LLC purchased a new stake in Cricut in the fourth quarter worth about $63,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cricut in the third quarter worth about $68,000. Finally, Olympiad Research LP bought a new position in shares of Cricut in the third quarter worth about $74,000. 19.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRCT shares. The Goldman Sachs Group cut their price objective on shares of Cricut from $3.50 to $3.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Finally, Weiss Ratings lowered shares of Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. Four equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $3.60.

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.