Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells $90,665.08 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 17,204 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $5.27, for a total value of $90,665.08. Following the completion of the transaction, the chief executive officer directly owned 2,668,146 shares of the company’s stock, valued at $14,061,129.42. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, October 16th, Arora Ashish sold 11,211 shares of Cricut stock. The shares were sold at an average price of $5.27, for a total value of $59,081.97.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was 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 shares were sold at an average price of $5.66, for a total value 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 value of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.42, for a total value 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 value of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.36, for a total value 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 shares were sold at an average price of $5.94, for a total value of $126,225.00.

Cricut Price Performance

Shares of NASDAQ:CRCT opened at $5.22 on Monday. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.82 and a beta of 0.18. The business’s 50 day moving average price is $5.97 and its 200-day moving average price is $5.77.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Cricut had a return on equity of 16.49% and a net margin of 10.09%.The firm had revenue of $172.11 million for the quarter, compared to analyst estimates of $158.59 million. On average, sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current year.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of 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. MQS Management LLC acquired a new stake in shares of Cricut in the 1st quarter worth $59,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Cricut in the 2nd quarter worth $80,000. Copeland Capital Management LLC increased its stake in shares of 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 acquiring an additional 1,917 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Cricut in the 1st quarter worth $97,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.