Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $102,706.69 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 20,833 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $4.93, for a total transaction of $102,706.69. Following the sale, the chief executive officer owned 4,177,922 shares of the company’s stock, valued at $20,597,155.46. This trade represents a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total transaction of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.94, for a total transaction of $102,915.02.
• On Monday, December 22nd, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.12, for a total transaction of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $5.09, for a total value of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total value of $105,831.18.
• On Wednesday, November 26th, Arora Ashish sold 20,372 shares of Cricut stock. The shares were sold at an average price of $4.79, for a total value of $97,581.88.
• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The stock was sold at an average price of $4.82, for a total value of $161,764.02.
• On Monday, November 24th, Arora Ashish sold 10,628 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $50,695.56.
• On Friday, November 21st, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.83, for a total transaction of $289,800.00.
• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total transaction of $90,665.08.

Cricut Trading Down 0.4%

CRCT opened at $4.84 on Friday. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The stock has a market capitalization of $1.02 billion, a PE ratio of 12.74 and a beta of 0.17. The firm has a 50-day moving average price of $4.91 and a two-hundred day moving average price of $5.50.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Cricut had a net margin of 11.31% and a return on equity of 19.91%. The business had revenue of $170.44 million for the quarter, compared to analysts’ expectations of $156.93 million. On average, research analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 6th will be issued a dividend of $0.10 per share. This represents a yield of 412.0%. The ex-dividend date of this dividend is Tuesday, January 6th. Cricut’s payout ratio is currently 52.63%.

Institutional Investors Weigh In On Cricut

Several hedge funds have recently bought and sold shares of CRCT. Vanguard Group Inc. boosted its position in shares of Cricut by 3.6% during the third quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company’s stock worth $29,751,000 after purchasing an additional 163,602 shares in the last quarter. American Century Companies Inc. raised its stake in Cricut by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 1,544,659 shares of the company’s stock worth $10,457,000 after buying an additional 159,339 shares during the period. Geode Capital Management LLC lifted its holdings in Cricut by 7.0% during the second quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company’s stock worth $9,449,000 after acquiring an additional 91,339 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Cricut by 51.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock valued at $8,675,000 after acquiring an additional 467,934 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Cricut by 76.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock worth $5,700,000 after acquiring an additional 392,951 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. The Goldman Sachs Group lowered shares of Cricut from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $5.50 to $4.75 in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cricut in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $4.18.

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.