Insider Selling: Cricut, Inc. (NASDAQ:CRCT) CEO Sells $373,200.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $6.22, for a total transaction of $373,200.00. Following the completion of the sale, the chief executive officer now owns 3,879,329 shares of the company’s stock, valued at approximately $24,129,426.38. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.19, for a total transaction of $371,400.00.
• On Thursday, March 27th, Arora Ashish sold 5,283 shares of Cricut stock. The stock was sold at an average price of $5.25, for a total transaction of $27,735.75.
• On Tuesday, March 25th, Arora Ashish sold 710 shares of Cricut stock. The shares were sold at an average price of $5.25, for a total value of $3,727.50.
• On Friday, March 14th, Arora Ashish sold 35,203 shares of Cricut stock. The shares were sold at an average price of $5.37, for a total value of $189,040.11.
• On Wednesday, March 12th, Arora Ashish sold 23,813 shares of Cricut stock. The shares were sold at an average price of $5.40, for a total value of $128,590.20.
• On Monday, February 24th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.59, for a total value of $335,400.00.
• On Friday, February 21st, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total value of $356,400.00.

Cricut Trading Up 0.2%

NASDAQ CRCT opened at $6.29 on Friday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 22.46 and a beta of 0.01. The business has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $5.51. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.17.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. As a group, sell-side analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 3.3%. Cricut’s dividend payout ratio (DPR) is presently 64.52%.

Wall Street Analysts Forecast Growth

CRCT has been the subject of a number of analyst reports. Citigroup reissued a “sell” rating and issued a $4.00 price target (down from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley lowered their price target on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a research report on Thursday, March 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Cricut by 16.4% in the 1st quarter. American Century Companies Inc. now owns 1,385,320 shares of the company’s stock valued at $7,134,000 after purchasing an additional 195,301 shares during the period. Geode Capital Management LLC grew its stake in shares of Cricut by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company’s stock worth $6,246,000 after acquiring an additional 14,191 shares during the period. Renaissance Technologies LLC grew its stake in shares of Cricut by 9.9% during the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company’s stock worth $3,469,000 after acquiring an additional 55,011 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Cricut by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock worth $2,502,000 after acquiring an additional 9,300 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Cricut by 10.9% during the 4th quarter. Northern Trust Corp now owns 451,772 shares of the company’s stock worth $2,575,000 after acquiring an additional 44,260 shares during the period. Institutional investors own 19.60% of the company’s stock.

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.