Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 60,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $5.61, for a total transaction of $336,600.00. Following the sale, the chief executive officer directly owned 5,597,105 shares of the company’s stock, valued at $31,399,759.05. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.79, for a total transaction of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total transaction of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total value of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $286,200.00.

Cricut Price Performance

CRCT stock opened at $5.45 on Wednesday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 12.67 and a beta of 0.25. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $6.93. The business has a 50-day moving average of $5.14 and a 200-day moving average of $4.56.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Cricut had a return on equity of 24.57% and a net margin of 12.71%.The business had revenue of $156.28 million for the quarter, compared to analyst estimates of $159.95 million. Equities analysts expect that Cricut, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

CRCT has been the subject of several recent research reports. Zacks Research upgraded shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group initiated coverage on Cricut in a report on Wednesday, August 19th. They issued a “sell” rating and a $4.50 price objective for the company. Morgan Stanley reiterated an “underweight” rating and set a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Cricut has an average rating of “Reduce” and a consensus price target of $4.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Cricut by 374.5% in the 4th quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock valued at $4,863,000 after purchasing an additional 775,330 shares during the period. Bank of New York Mellon Corp bought a new position in Cricut during the second quarter worth about $2,409,000. Algert Global LLC grew its holdings in Cricut by 354.9% during the third quarter. Algert Global LLC now owns 615,697 shares of the company’s stock worth $3,873,000 after purchasing an additional 480,364 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Cricut by 51.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company’s stock worth $8,675,000 after buying an additional 467,934 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Cricut by 76.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 906,141 shares of the company’s stock worth $5,700,000 after buying an additional 392,951 shares during the last quarter. Institutional investors own 19.60% of the company’s stock.

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.