Cricut (NASDAQ:CRCT) CEO Sells $70,373.80 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 16,366 shares of the business’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 in the company, 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 filing with the SEC, which is available through this link. 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

CRCT opened at $4.14 on Friday. The business’s fifty day moving average is $4.18 and its two-hundred day moving average is $4.46. The company has a market cap of $868.99 million, a price-to-earnings ratio of 11.83 and a beta of 0.22. Cricut, Inc. has a one year low of $3.73 and a one year high of $7.33.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 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 company had revenue of $159.47 million for the quarter, compared to the consensus estimate of $164.33 million. On average, analysts predict that Cricut, Inc. will post 0.14 EPS for the current fiscal year.

Cricut Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Cricut

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. Millennium Management LLC increased its stake in Cricut by 374.5% during the fourth quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock worth $4,863,000 after acquiring an additional 775,330 shares during the last quarter. Algert Global LLC increased its stake 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 acquiring an additional 480,364 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 acquiring an additional 467,934 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake 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 acquiring an additional 392,951 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in Cricut by 824.0% during the third quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock worth $2,253,000 after acquiring an additional 319,447 shares during the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

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.