Cricut, Inc. (NASDAQ:CRCT) CEO Sells $385,648.29 in Stock

Cricut, Inc. (NASDAQ:CRCTGet Free Report) CEO Arora Ashish sold 52,901 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.29, for a total transaction of $385,648.29. Following the transaction, the chief executive officer now directly owns 1,898,769 shares of the company’s stock, valued at $13,842,026.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, May 17th, Arora Ashish sold 24,134 shares of Cricut stock. The stock was sold at an average price of $6.97, for a total value of $168,213.98.
  • On Monday, May 13th, Arora Ashish sold 56,581 shares of Cricut stock. The shares were sold at an average price of $7.06, for a total value of $399,461.86.
  • On Friday, May 10th, Arora Ashish sold 129,186 shares of Cricut stock. The shares were sold at an average price of $7.11, for a total value of $918,512.46.

Cricut Stock Down 1.6 %

NASDAQ:CRCT opened at $6.95 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of 23.97 and a beta of 0.03. Cricut, Inc. has a 52-week low of $4.43 and a 52-week high of $17.89. The stock has a fifty day simple moving average of $5.45 and a 200-day simple moving average of $6.02.

Cricut (NASDAQ:CRCTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a net margin of 8.54% and a return on equity of 12.25%. The business had revenue of $231.25 million during the quarter, compared to analysts’ expectations of $252.67 million. During the same period last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Cricut, Inc. will post 0.24 earnings per share for the current year.

Cricut Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Tuesday, July 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a yield of 1.3%.

Institutional Investors Weigh In On Cricut

A number of hedge funds and other institutional investors have recently modified their holdings of CRCT. Price T Rowe Associates Inc. MD boosted its stake in Cricut by 40.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,008 shares of the company’s stock worth $134,000 after buying an additional 8,077 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock worth $65,000 after acquiring an additional 13,645 shares during the period. Vanguard Group Inc. boosted its position in shares of Cricut by 10.9% in the first quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock worth $17,416,000 after acquiring an additional 360,080 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in Cricut in the first quarter valued at approximately $78,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Cricut in the first quarter valued at approximately $758,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group reduced their target price on Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Citigroup reduced their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, Barclays lowered their target price on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, March 7th.

Get Our Latest Research Report on CRCT

About Cricut

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Cricut (NASDAQ:CRCT)

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