Cricut, Inc. (NASDAQ:CRCT – Get Free Report) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were 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 directly owned 4,461,592 shares in the company, valued at $17,623,288.40. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 transaction of $57,196.50.
- On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.28, for a total transaction of $256,800.00.
- On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.42, for a total transaction of $265,200.00.
Cricut Price Performance
Shares of CRCT opened at $4.01 on Friday. The firm has a market capitalization of $841.70 million, a price-to-earnings ratio of 11.46 and a beta of 0.22. Cricut, Inc. has a 1-year low of $3.73 and a 1-year high of $7.33. The company has a 50-day moving average of $4.17 and a 200 day moving average of $4.52.
Cricut Dividend Announcement
The firm also recently declared a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given 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 dividend payout ratio is presently 57.14%.
Analysts Set New Price Targets
A number of brokerages recently commented on CRCT. Barclays reissued an “underweight” rating and issued a $4.00 price objective on shares of Cricut in a research note on Wednesday, March 4th. The Goldman Sachs Group reissued a “sell” rating and issued a $3.75 price target on shares of Cricut in a research report on Wednesday, May 6th. UBS Group restated a “cautious” rating on shares of Cricut in a research note on Wednesday, March 4th. Finally, Weiss Ratings downgraded Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Cricut currently has an average rating of “Strong Sell” and an average target price of $3.88.
Get Our Latest Research Report on CRCT
Institutional Investors Weigh In On Cricut
Several institutional investors and hedge funds have recently made changes to their positions in CRCT. Osaic Holdings Inc. raised its stake in Cricut by 255.9% in the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after acquiring an additional 2,620 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cricut by 57,811.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company’s stock worth $26,000 after purchasing an additional 5,203 shares during the period. Royal Bank of Canada lifted its stake in Cricut by 265.0% during the 1st quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock valued at $30,000 after acquiring an additional 5,928 shares during the period. Guggenheim Capital LLC purchased a new stake in shares of Cricut in the fourth quarter worth about $55,000. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Cricut during the 4th quarter valued at approximately $63,000. 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.
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