Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells 21,250 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $6.16, for a total value of $130,900.00. Following the completion of the sale, the chief executive officer directly owned 2,887,811 shares of the company’s stock, valued at $17,788,915.76. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.36, for a total transaction of $135,150.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.75, for a total transaction of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total value of $126,225.00.
• On Friday, August 15th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, August 13th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.58, for a total transaction of $118,575.00.
• On Monday, July 21st, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.46, for a total transaction of $116,025.00.
• On Wednesday, July 9th, Arora Ashish sold 53,489 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $317,724.66.
• On Monday, July 7th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.25, for a total value of $375,000.00.
• On Wednesday, June 18th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.57, for a total transaction of $394,200.00.

Cricut Price Performance

NASDAQ CRCT opened at $6.61 on Friday. The firm has a market cap of $1.40 billion, a P/E ratio of 20.03 and a beta of 0.16. The stock’s 50-day moving average is $5.60 and its 200-day moving average is $5.64. Cricut, Inc. has a one year low of $3.94 and a one year high of $7.33.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. Equities analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $4.52.

Institutional Trading of Cricut

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in shares of Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after acquiring an additional 2,620 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Cricut during the 1st quarter valued at $59,000. ProShare Advisors LLC purchased a new stake in Cricut during the 4th quarter valued at about $75,000. Vanguard Personalized Indexing Management LLC acquired a new position in Cricut in the second quarter valued at approximately $80,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Cricut during the fourth quarter valued at $89,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

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.