Arora Ashish Sells 16,366 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 16,366 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $4.30, for a total value of $70,373.80. Following the sale, the chief executive officer owned 4,325,226 shares of the company’s stock, valued at approximately $18,598,471.80. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 20th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $3.95, for a total value of $237,000.00.

Cricut Stock Performance

Shares of NASDAQ:CRCT opened at $4.13 on Friday. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $7.33. The stock has a market capitalization of $866.89 million, a P/E ratio of 11.80 and a beta of 0.22. The stock has a 50-day simple moving average of $4.18 and a 200-day simple moving average of $4.47.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Cricut had a return on equity of 21.37% and a net margin of 10.36%.The business had revenue of $159.47 million during the quarter, compared to analysts’ expectations of $164.33 million. Analysts predict that Cricut, Inc. will post 0.14 earnings per share for the current year.

Cricut Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 7th. This represents a dividend yield of 474.0%. Cricut’s payout ratio is presently 57.14%.

Analyst Ratings Changes

CRCT has been the subject of several recent research reports. Barclays reiterated an “underweight” rating and issued a $4.00 price target on shares of Cricut in a report on Wednesday, March 4th. UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group reiterated a “sell” rating and issued a $3.75 price target on shares of Cricut in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $3.88.

Institutional Trading of Cricut

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its stake in shares of Cricut by 255.9% during 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. Caitong International Asset Management Co. Ltd grew its stake in shares of Cricut by 57,811.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock valued at $26,000 after acquiring an additional 5,203 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock valued at $30,000 after acquiring an additional 5,928 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Cricut during the fourth quarter valued at about $55,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Cricut during the fourth quarter valued at about $63,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

About Cricut

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.