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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $5.48, for a total transaction of $328,800.00. Following the transaction, the chief executive officer directly owned 4,027,105 shares of the company’s stock, valued at approximately $22,068,535.40. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total value of $336,000.00.
• On Wednesday, August 5th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total transaction of $286,200.00.
• On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The shares were sold at an average price of $4.30, for a total transaction of $70,373.80.

Cricut Price Performance

Shares of CRCT opened at $5.40 on Friday. The stock’s 50-day moving average is $4.81 and its two-hundred day moving average is $4.45. The stock has a market cap of $1.13 billion, a PE ratio of 12.56 and a beta of 0.19. Cricut, Inc. has a 12 month low of $3.73 and a 12 month high of $6.93.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $156.28 million during the quarter, compared to the consensus estimate of $159.95 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%. On average, research analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRCT. Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. The Goldman Sachs Group began coverage on Cricut in a research note on Wednesday. They set a “sell” rating and a $4.50 price objective on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.70 price objective on shares of Cricut in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.07.

Institutional Investors Weigh In On Cricut

Several hedge funds and other institutional investors have recently bought and sold shares of CRCT. First Trust Advisors LP lifted its position in Cricut by 1.3% in the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company’s stock valued at $1,045,000 after acquiring an additional 1,977 shares in the last quarter. Deutsche Bank AG increased its holdings in Cricut by 6.0% during the 4th quarter. Deutsche Bank AG now owns 41,949 shares of the company’s stock worth $208,000 after purchasing an additional 2,374 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after purchasing an additional 2,620 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Cricut by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 62,812 shares of the company’s stock valued at $395,000 after purchasing an additional 3,566 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Cricut by 34.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 14,630 shares of the company’s stock valued at $72,000 after purchasing an additional 3,768 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.

Cricut Company Profile

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.