Cricut (NASDAQ:CRCT) CEO Sells 60,000 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $5.62, for a total value of $337,200.00. Following the completion of the sale, the chief executive officer owned 5,537,105 shares in the company, valued at $31,118,530.10. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.68, for a total value of $340,800.00.
• 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 transaction 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 transaction 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 transaction of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.60, for a total value 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 value 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 Stock Up 2.1%

Shares of NASDAQ CRCT traded up $0.12 during trading hours on Thursday, reaching $5.71. 507,140 shares of the stock traded hands, compared to its average volume of 601,201. The company’s 50-day simple moving average is $5.28 and its two-hundred day simple moving average is $4.60. The company has a market capitalization of $1.20 billion, a P/E ratio of 13.28 and a beta of 0.25. Cricut, Inc. has a 52-week low of $3.73 and a 52-week high of $6.93.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $156.28 million for the quarter, compared to analysts’ expectations of $159.95 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%. As a group, sell-side analysts forecast that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Cricut by 57,811.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after buying an additional 5,203 shares during the period. Royal Bank of Canada increased its stake in shares of 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. E6 Portfolios LLC purchased a new position in shares of Cricut during the fourth quarter valued at approximately $75,000. AXQ Capital LP bought a new position in shares of Cricut during the second quarter valued at approximately $74,000. Finally, Diversified Trust Co purchased a new stake in Cricut in the first quarter worth $67,000. Institutional investors own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRCT. Weiss Ratings raised shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Zacks Research upgraded Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group began 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. Finally, Morgan Stanley restated an “underweight” rating and set a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. One research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $4.07.

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.