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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $4.42, for a total value of $265,200.00. Following the completion of the transaction, the chief executive officer directly owned 3,798,453 shares of the company’s stock, valued at $16,789,162.26. The trade was a 1.56% 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, 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 transaction 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 transaction of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total transaction of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.94, for a total transaction 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 stock was 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.
• On Wednesday, November 26th, Arora Ashish sold 20,372 shares of Cricut stock. The shares were sold at an average price of $4.79, for a total value of $97,581.88.
• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The shares were sold at an average price of $4.82, for a total value of $161,764.02.

Cricut Price Performance

NASDAQ CRCT traded down $0.21 during trading hours on Monday, reaching $4.41. The company’s stock had a trading volume of 606,228 shares, compared to its average volume of 540,252. The firm has a market capitalization of $933.77 million, a price-to-earnings ratio of 11.61 and a beta of 0.17. The company’s 50-day moving average is $4.72 and its two-hundred day moving average is $5.23. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRCT. Invesco Ltd. grew its holdings in shares of Cricut by 29.7% in the fourth quarter. Invesco Ltd. now owns 132,981 shares of the company’s stock valued at $658,000 after purchasing an additional 30,484 shares during the period. Corient Private Wealth LLC boosted its holdings in Cricut by 34.6% in the 4th quarter. Corient Private Wealth LLC now owns 16,917 shares of the company’s stock valued at $84,000 after purchasing an additional 4,349 shares during the last quarter. XTX Topco Ltd boosted its holdings in Cricut by 52.2% in the 4th quarter. XTX Topco Ltd now owns 81,668 shares of the company’s stock valued at $404,000 after purchasing an additional 27,996 shares during the last quarter. Millennium Management LLC grew its stake in shares of Cricut by 374.5% in the 4th quarter. Millennium Management LLC now owns 982,343 shares of the company’s stock valued at $4,863,000 after buying an additional 775,330 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in shares of Cricut during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Analyst Upgrades and Downgrades

CRCT has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings lowered shares of Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. Four analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $3.60.

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.