Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $237,000.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.95, for a total value of $237,000.00. Following the completion of the transaction, the chief executive officer owned 4,461,592 shares in the company, valued at approximately $17,623,288.40. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Tuesday, March 3rd, Arora Ashish sold 13,458 shares of Cricut stock. The shares were sold at an average price of $4.25, for a total value of $57,196.50.
• On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.28, for a total value of $256,800.00.
• On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.42, for a total value of $265,200.00.

Cricut Trading Down 0.7%

Shares of NASDAQ CRCT opened at $3.98 on Friday. The stock has a fifty day simple moving average of $4.17 and a two-hundred day simple moving average of $4.51. Cricut, Inc. has a 1-year low of $3.73 and a 1-year high of $7.33. The firm has a market cap of $835.40 million, a price-to-earnings ratio of 11.37 and a beta of 0.22.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $159.47 million during the quarter, compared to analyst estimates of $164.33 million. Cricut had a return on equity of 21.37% and a net margin of 10.36%. Analysts forecast that Cricut, Inc. will post 0.14 EPS for the current year.

Cricut Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a yield of 474.0%. Cricut’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRCT shares. The Goldman Sachs Group reaffirmed a “sell” rating and set a $3.75 price target on shares of Cricut in a research note on Wednesday, May 6th. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Barclays reaffirmed an “underweight” rating and set a $4.00 price target on shares of Cricut in a research note on Wednesday, March 4th. Finally, UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Four investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Cricut currently has an average rating of “Strong Sell” and an average target price of $3.88.

Institutional Investors Weigh In On Cricut

A number of hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL increased its stake in shares of Cricut by 824.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock worth $2,253,000 after purchasing an additional 319,447 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Cricut in the 3rd quarter valued at about $1,324,000. FourThought Financial Partners LLC bought a new stake in Cricut in the third quarter worth about $356,000. Quantbot Technologies LP purchased a new position in shares of Cricut during the third quarter worth approximately $376,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of Cricut during the third quarter worth approximately $551,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

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.