Arora Ashish Sells 11,211 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 11,211 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $5.27, for a total value of $59,081.97. Following the completion of the transaction, the chief executive officer directly owned 2,685,350 shares of the company’s stock, valued at approximately $14,151,794.50. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $90,665.08.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.47, for a total value of $116,237.50.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.66, for a total value of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.81, for a total value of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.42, for a total value of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.77, for a total value of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.36, for a total value of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.16, for a total value of $130,900.00.
• 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 value 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.

Cricut Trading Up 0.2%

NASDAQ:CRCT opened at $5.22 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 15.82 and a beta of 0.18. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The business’s 50-day moving average is $5.97 and its 200 day moving average is $5.77.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ascent Group LLC bought a new position in shares of Cricut during the first quarter valued at approximately $218,000. Bank of New York Mellon Corp grew its stake in shares of Cricut by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock valued at $2,502,000 after buying an additional 9,300 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cricut by 22.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 136,475 shares of the company’s stock valued at $703,000 after buying an additional 25,330 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Cricut by 94.2% during the first quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company’s stock valued at $206,000 after buying an additional 19,400 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in Cricut by 6.3% in the first quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock worth $288,000 after purchasing an additional 3,326 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

CRCT has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Cricut from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $5.50 to $4.75 in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Cricut in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $4.18.

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.