Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish Sells 60,000 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $6.22, for a total value of $373,200.00. Following the transaction, the chief executive officer now owns 3,879,329 shares of the company’s stock, valued at $24,129,426.38. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.19, for a total transaction of $371,400.00.
• On Thursday, March 27th, Arora Ashish sold 5,283 shares of Cricut stock. The stock was sold at an average price of $5.25, for a total transaction of $27,735.75.
• On Tuesday, March 25th, Arora Ashish sold 710 shares of Cricut stock. The shares were sold at an average price of $5.25, for a total transaction of $3,727.50.
• 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 transaction of $189,040.11.
• On Wednesday, March 12th, Arora Ashish sold 23,813 shares of Cricut stock. The shares were sold at an average price of $5.40, for a total transaction of $128,590.20.
• 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 shares were sold at an average price of $5.94, for a total value of $356,400.00.

Cricut Price Performance

CRCT stock opened at $6.22 on Thursday. The firm has a market cap of $1.32 billion, a PE ratio of 22.21 and a beta of 0.01. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.48. The firm has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $5.51.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. As a group, sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.10 dividend. The ex-dividend date is Monday, July 7th. This represents a dividend yield of 3.3%. Cricut’s dividend payout ratio (DPR) is 64.52%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a report on Thursday, March 6th. Citigroup reiterated a “sell” rating and issued a $4.00 price target (down from $6.00) on shares of Cricut in a research report on Monday, April 14th.

Hedge Funds Weigh In On Cricut

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Cricut by 16.4% in the first quarter. American Century Companies Inc. now owns 1,385,320 shares of the company’s stock worth $7,134,000 after buying an additional 195,301 shares during the period. Geode Capital Management LLC lifted its position in shares of Cricut by 1.3% in 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 in the last quarter. Renaissance Technologies LLC boosted its stake in Cricut by 9.9% in the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company’s stock worth $3,469,000 after purchasing an additional 55,011 shares during the period. Bank of New York Mellon Corp boosted its stake in Cricut by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock worth $2,502,000 after purchasing an additional 9,300 shares during the period. Finally, Northern Trust Corp raised its stake in Cricut by 10.9% during the 4th quarter. Northern Trust Corp now owns 451,772 shares of the company’s stock valued at $2,575,000 after purchasing an additional 44,260 shares during the period. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.