Arora Ashish Sells 13,458 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 13,458 shares of Cricut stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $4.25, for a total value of $57,196.50. Following the transaction, the chief executive officer directly owned 3,724,995 shares of the company’s stock, valued at $15,831,228.75. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were sold at an average price of $4.42, for a total transaction of $265,200.00.
• On Thursday, February 19th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.65, for a total value of $279,000.00.
• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.93, for a total value of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total value of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.94, for a total value of $102,915.02.
• On Monday, December 22nd, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.12, for a total transaction of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $5.09, for a total transaction of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total transaction of $105,831.18.

Cricut Stock Down 8.4%

CRCT stock opened at $4.14 on Friday. The stock has a market capitalization of $876.62 million, a price-to-earnings ratio of 11.50 and a beta of 0.17. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.33. The stock’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $5.16.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Cricut had a return on equity of 19.88% and a net margin of 10.82%.The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $202.22 million. As a group, analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cricut

A number of institutional investors and hedge funds have recently bought and sold shares of CRCT. Osaic Holdings Inc. lifted its position in shares of Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock worth $25,000 after purchasing an additional 2,620 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $26,000 after acquiring an additional 5,203 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Cricut during the fourth quarter worth about $55,000. Orion Porfolio Solutions LLC acquired a new position in shares of Cricut in the fourth quarter worth about $63,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cricut in the third quarter valued at about $68,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Analyst Ratings Changes

CRCT has been the topic of a number of research analyst reports. UBS Group reiterated a “cautious” rating on shares of Cricut in a report on Wednesday. The Goldman Sachs Group lowered their price target on Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. Barclays reaffirmed an “underweight” rating and issued a $4.00 price objective on shares of Cricut in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Five research analysts have rated the stock with a Sell rating, According to MarketBeat, Cricut has a consensus rating of “Strong Sell” and a consensus target price of $3.67.

About Cricut

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.