Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $59,081.97 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 11,211 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $5.27, for a total value of $59,081.97. Following the transaction, the chief executive officer owned 2,685,350 shares in the company, valued at approximately $14,151,794.50. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total value of $90,665.08.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.47, for a total value of $116,237.50.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.66, for a total transaction of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.81, for a total transaction of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.42, for a total transaction of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.77, for a total transaction of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.36, for a total transaction of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.16, for a total value of $130,900.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.75, for a total value of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total value of $126,225.00.

Cricut Stock Up 0.2%

Shares of Cricut stock opened at $5.22 on Monday. The business has a 50 day moving average of $5.97 and a 200 day moving average of $5.77. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33. The company has a market cap of $1.11 billion, a PE ratio of 15.82 and a beta of 0.18.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The business had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $158.59 million. On average, research analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CRCT. Wall Street Zen lowered shares of Cricut from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Cricut in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group cut Cricut from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $5.50 to $4.75 in a research note on Thursday. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average target price of $4.18.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its stake in Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after buying an additional 2,620 shares during the last quarter. MQS Management LLC bought a new position in shares of Cricut during the first quarter valued at $59,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Cricut in the 2nd quarter worth about $80,000. Copeland Capital Management LLC boosted its stake in Cricut by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 13,632 shares of the company’s stock worth $92,000 after purchasing an additional 1,917 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Cricut during the 1st quarter valued at about $97,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

About Cricut

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.