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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was 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 shares were sold at an average price of $5.25, for a total value of $27,735.75.
• On Tuesday, March 25th, Arora Ashish sold 710 shares of Cricut stock. The stock was 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 transaction of $128,590.20.
• On Monday, February 24th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.59, for a total transaction 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 transaction of $356,400.00.

Cricut Trading Down 0.5%

NASDAQ CRCT opened at $6.22 on Thursday. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.48. The company has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $5.51. The company has a market cap of $1.32 billion, a P/E ratio of 22.21 and a beta of 0.01.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results 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 company had revenue of $162.63 million during the quarter, compared to analysts’ expectations of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Equities research analysts forecast that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 7th. This represents a yield of 3.3%. Cricut’s payout ratio is 64.52%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup reaffirmed a “sell” rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th. Morgan Stanley reduced their target price on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a report on Thursday, March 6th.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Cricut during the fourth quarter worth approximately $36,000. MQS Management LLC bought a new position in Cricut during the first quarter worth $59,000. Copeland Capital Management LLC bought a new position in Cricut during the fourth quarter worth $63,000. Drive Wealth Management LLC acquired a new position in Cricut during the 4th quarter valued at $64,000. Finally, Olympiad Research LP bought a new stake in Cricut in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

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.