Cricut, Inc. (NASDAQ:CRCT) CEO Sells $390,000.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $6.50, for a total value of $390,000.00. Following the sale, the chief executive officer now directly owns 3,051,931 shares of the company’s stock, valued at $19,837,551.50. This trade represents a 1.93% decrease in their ownership of the stock. 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 Wednesday, June 18th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.57, for a total value of $394,200.00.
• On Wednesday, June 4th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.33, for a total value of $379,800.00.
• On Monday, June 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.22, for a total value of $373,200.00.
• On Friday, May 23rd, 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, May 21st, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.18, for a total value of $370,800.00.
• On Wednesday, May 14th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.22, for a total value of $373,200.00.
• On Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.19, for a total value 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 value 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 value of $3,727.50.

Cricut Stock Performance

Shares of CRCT stock opened at $6.60 on Thursday. The stock’s 50 day simple moving average is $5.66 and its 200 day simple moving average is $5.61. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.02. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 21.29 and a beta of 0.12.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Cricut had a return on equity of 14.27% and a net margin of 9.48%. The business had revenue of $162.63 million for the quarter, compared to the consensus estimate of $158.55 million. On average, analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts 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 on the stock in a research note on Thursday, March 6th. Citigroup reissued a “sell” rating and issued a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th.

Institutional Trading of Cricut

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Cricut in the 1st quarter valued at approximately $333,000. Jane Street Group LLC grew its holdings in Cricut by 43.7% in the 1st quarter. Jane Street Group LLC now owns 20,176 shares of the company’s stock valued at $104,000 after buying an additional 6,140 shares during the last quarter. Ascent Group LLC acquired a new stake in Cricut in the 1st quarter valued at approximately $218,000. Jacobs Levy Equity Management Inc. grew its holdings in Cricut by 305.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company’s stock valued at $1,595,000 after buying an additional 233,292 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Cricut in the 1st quarter valued at approximately $500,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

About Cricut

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.