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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $4.65, for a total value of $279,000.00. Following the completion of the sale, the chief executive officer owned 3,918,453 shares of the company’s stock, valued at $18,220,806.45. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.42, for a total value of $265,200.00.
• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.93, for a total value of $102,706.69.
• 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 transaction 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 transaction 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 transaction 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.

Cricut Stock Down 4.5%

CRCT traded down $0.21 during trading on Monday, hitting $4.41. The company had a trading volume of 606,228 shares, compared to its average volume of 540,252. Cricut, Inc. has a one year low of $3.94 and a one year high of $7.33. The firm’s 50-day moving average price is $4.72 and its 200 day moving average price is $5.23. The company has a market capitalization of $933.77 million, a PE ratio of 11.61 and a beta of 0.17.

Analysts Set New Price Targets

CRCT has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Four research analysts have rated the stock with a Sell rating, According to data from MarketBeat, Cricut presently has a consensus rating of “Strong Sell” and a consensus price target of $3.60.

Institutional Trading of Cricut

Several institutional investors and hedge funds have recently bought and sold shares of CRCT. Osaic Holdings Inc. increased its holdings in shares of Cricut by 255.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after acquiring an additional 2,620 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Cricut during the third quarter worth approximately $68,000. Guggenheim Capital LLC bought a new stake in shares of Cricut during the fourth quarter worth approximately $55,000. Olympiad Research LP acquired a new position in shares of Cricut in the third quarter valued at approximately $74,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Cricut in the second quarter valued at approximately $80,000. Institutional investors own 19.60% of the company’s stock.

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.