Arora Ashish Sells 60,000 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief executive officer directly owned 5,417,105 shares in the company, valued at approximately $30,769,156.40. This trade represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.62, for a total value of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.61, for a total transaction of $336,600.00.
• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.79, for a total value of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total value of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.60, for a total transaction of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total transaction of $286,200.00.

Cricut Price Performance

Cricut stock opened at $5.64 on Friday. The company has a market capitalization of $1.18 billion, a P/E ratio of 13.12 and a beta of 0.25. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $6.93. The business has a 50 day moving average of $5.33 and a 200-day moving average of $4.62.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Cricut had a return on equity of 24.57% and a net margin of 12.71%.The firm had revenue of $156.28 million for the quarter, compared to analyst estimates of $159.95 million. Equities analysts anticipate that Cricut, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Cricut

Several hedge funds and other institutional investors have recently bought and sold shares of CRCT. AXQ Capital LP bought a new position in Cricut in the second quarter valued at about $74,000. Public Employees Retirement System of Ohio bought a new stake in shares of Cricut during the second quarter valued at approximately $355,000. Bank of New York Mellon Corp bought a new stake in Cricut in the 2nd quarter valued at $2,409,000. Bank of America Corp DE increased its holdings in shares of Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company’s stock worth $437,000 after purchasing an additional 64,737 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of 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 last quarter. Institutional investors own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $3.70 price objective on shares of Cricut in a research note on Wednesday, August 5th. Weiss Ratings raised Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group began coverage on shares of Cricut in a research report on Wednesday, August 19th. They set a “sell” rating and a $4.50 price target for the company. Finally, Zacks Research upgraded shares of Cricut from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $4.07.

Cricut Company Profile

Cricut, Inc develops creative technology products that enable consumers to design and make personalized projects. Its ecosystem combines connected cutting, writing, scoring, and heat-transfer machines with digital design tools, project content, and a broad range of craft materials and accessories.

The company’s product portfolio includes Cricut smart cutting machines, such as the Explore, Maker, and Joy families, as well as heat-press equipment and related tools. These products are used for applications including apparel decoration, paper crafts, home décor, personalized gifts, signage, and other do-it-yourself projects.

Cricut also operates a digital platform that provides design software, ready-to-make projects, fonts, images, and subscription-based content.