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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $6.57, for a total value of $394,200.00. Following the completion of the transaction, the chief executive officer now owns 2,931,931 shares in the company, valued at $19,262,786.67. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, June 16th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.50, for a total value of $390,000.00.
• On Wednesday, June 4th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.33, for a total value of $379,800.00.
• On Monday, June 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.22, for a total value of $373,200.00.
• On Friday, May 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.94, for a total value of $356,400.00.
• On Wednesday, May 21st, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.18, for a total value of $370,800.00.
• On Wednesday, May 14th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.22, for a total value of $373,200.00.
• On Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.19, for a total value of $371,400.00.
• On Thursday, March 27th, Arora Ashish sold 5,283 shares of Cricut stock. The stock was sold at an average price of $5.25, for a total value of $27,735.75.
• On Tuesday, March 25th, Arora Ashish sold 710 shares of Cricut stock. The stock was sold at an average price of $5.25, for a total value of $3,727.50.

Cricut Stock Down 0.9%

Shares of Cricut stock opened at $6.54 on Friday. The business has a fifty day simple moving average of $5.73 and a 200 day simple moving average of $5.63. The stock has a market cap of $1.39 billion, a PE ratio of 21.10 and a beta of 0.12. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.02.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Cricut had a return on equity of 14.27% and a net margin of 9.48%. Analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 3.3%. Cricut’s dividend payout ratio is presently 64.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MQS Management LLC bought a new position in Cricut during the first quarter worth about $59,000. Olympiad Research LP bought a new position in Cricut during the fourth quarter worth about $67,000. Caisse Des Depots ET Consignations bought a new position in Cricut during the fourth quarter worth about $72,000. ProShare Advisors LLC acquired a new stake in shares of Cricut in the 4th quarter valued at about $75,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Cricut in the 4th quarter valued at about $84,000. 19.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup reaffirmed a “sell” rating and set a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley decreased their price objective on Cricut from $3.90 to $3.80 and set an “underweight” rating for the company in a research note on Thursday, March 6th.

Cricut Company Profile

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.