Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells 60,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $4.83, for a total value of $289,800.00. Following the sale, the chief executive officer owned 4,430,441 shares in the company, valued at approximately $21,399,030.03. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The stock was sold at an average price of $4.82, for a total value of $161,764.02.
• On Monday, November 24th, Arora Ashish sold 10,628 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $50,695.56.
• 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 transaction of $90,665.08.
• 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 transaction of $59,081.97.
• 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 transaction 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 stock was 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 shares were 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 stock was 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 shares were sold at an average price of $6.36, for a total value of $135,150.00.

Cricut Trading Up 2.5%

Cricut stock traded up $0.12 during midday trading on Tuesday, reaching $4.84. The stock had a trading volume of 380,736 shares, compared to its average volume of 546,648. The company has a fifty day moving average price of $5.47 and a two-hundred day moving average price of $5.80. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The company has a market capitalization of $1.02 billion, a P/E ratio of 12.74 and a beta of 0.17.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $170.44 million for the quarter, compared to analyst estimates of $156.93 million. Cricut had a return on equity of 19.91% and a net margin of 11.31%. On average, equities research analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a yield of 399.0%. Cricut’s dividend payout ratio (DPR) is presently 52.63%.

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently modified their holdings of CRCT. Bank of New York Mellon Corp boosted its position in Cricut by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company’s stock worth $2,502,000 after purchasing an additional 9,300 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Cricut by 94.2% during the 1st quarter. Allianz Asset Management GmbH now owns 40,000 shares of the company’s stock worth $206,000 after purchasing an additional 19,400 shares during the period. XTX Topco Ltd boosted its holdings in shares of Cricut by 6.3% in the 1st quarter. XTX Topco Ltd now owns 56,003 shares of the company’s stock worth $288,000 after buying an additional 3,326 shares during the last quarter. R Squared Ltd boosted its holdings in shares of Cricut by 208.9% in the 1st quarter. R Squared Ltd now owns 19,675 shares of the company’s stock worth $101,000 after buying an additional 13,305 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Cricut by 22.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 136,475 shares of the company’s stock valued at $703,000 after buying an additional 25,330 shares during the period. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRCT shares. Wall Street Zen upgraded shares of Cricut from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Cricut in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group cut shares of Cricut from a “neutral” rating to a “sell” rating and dropped their price target for the company from $5.50 to $4.75 in a research report on Thursday, October 16th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Sell” and an average target price 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.