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

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $5.79, for a total value of $347,400.00. Following the completion of the transaction, the chief executive officer owned 5,717,105 shares of the company’s stock, valued at $33,102,037.95. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.48, for a total value of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.60, for a total value of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $286,200.00.

Cricut Stock Performance

Shares of CRCT traded up $0.09 during mid-day trading on Thursday, reaching $5.85. 788,607 shares of the company were exchanged, compared to its average volume of 600,979. The business has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $4.53. The stock has a market capitalization of $1.23 billion, a PE ratio of 13.60 and a beta of 0.25. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.93.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The business had revenue of $156.28 million for the quarter, compared to analysts’ expectations of $159.95 million. On average, analysts predict that Cricut, Inc. will post 0.32 EPS for the current year.

Institutional Trading of Cricut

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its position in Cricut by 43.7% during the first quarter. Jane Street Group LLC now owns 20,176 shares of the company’s stock worth $104,000 after buying an additional 6,140 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Cricut by 15.8% in the 2nd quarter. Legal & General Group Plc now owns 59,246 shares of the company’s stock valued at $401,000 after acquiring an additional 8,095 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Cricut during the 2nd quarter valued at about $232,000. Russell Investments Group Ltd. boosted its position in shares of Cricut by 288.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,017 shares of the company’s stock valued at $142,000 after acquiring an additional 15,610 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Cricut by 20.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company’s stock worth $6,169,000 after purchasing an additional 157,448 shares in the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CRCT has been the topic of a number of research reports. Zacks Research upgraded Cricut from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group began coverage on shares of Cricut in a research note on Wednesday, August 19th. They issued a “sell” rating and a $4.50 target price for the company. Finally, Morgan Stanley restated an “underweight” rating and set a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.07.

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.