Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish Sells 23,813 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 23,813 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.40, for a total value of $128,590.20. Following the sale, the chief executive officer now owns 3,307,822 shares in the company, valued at approximately $17,862,238.80. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, March 14th, Arora Ashish sold 35,203 shares of Cricut stock. The stock was sold at an average price of $5.37, for a total value of $189,040.11.
• On Monday, February 24th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.59, for a total value of $335,400.00.
• On Friday, February 21st, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total value of $356,400.00.
• On Wednesday, February 5th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.66, for a total value of $120,275.00.
• On Monday, February 3rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.27, for a total value of $111,987.50.
• On Thursday, January 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.86, for a total value of $124,525.00.
• On Tuesday, January 21st, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.75, for a total value of $122,187.50.
• On Wednesday, January 8th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.63, for a total value of $119,637.50.
• On Monday, January 6th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.93, for a total value of $126,012.50.
• On Friday, December 20th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $126,225.00.

Cricut Stock Performance

CRCT stock opened at $5.38 on Friday. The firm has a 50 day moving average price of $5.64 and a 200-day moving average price of $5.89. Cricut, Inc. has a 52-week low of $4.55 and a 52-week high of $8.40. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 19.21 and a beta of -0.02.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $209.31 million during the quarter, compared to the consensus estimate of $214.41 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. As a group, sell-side analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cricut

A number of large investors have recently added to or reduced their stakes in the stock. Tenzing Global Management LLC grew its position in Cricut by 4.9% in the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock worth $14,900,000 after purchasing an additional 100,000 shares during the period. American Century Companies Inc. grew its position in shares of Cricut by 25.8% during the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company’s stock valued at $6,783,000 after acquiring an additional 244,058 shares during the period. Geode Capital Management LLC grew its position in shares of Cricut by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company’s stock valued at $6,246,000 after acquiring an additional 14,191 shares during the period. State Street Corp grew its position in shares of Cricut by 3.2% during the 3rd quarter. State Street Corp now owns 1,019,025 shares of the company’s stock valued at $7,062,000 after acquiring an additional 31,584 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Cricut by 9.9% during the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company’s stock valued at $3,469,000 after buying an additional 55,011 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered their price objective on shares of Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a report on Thursday, March 6th.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.