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

Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora sold 60,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $5.61, for a total value of $336,600.00. Following the completion of the sale, the chief executive officer directly owned 5,597,105 shares of the company’s stock, valued at approximately $31,399,759.05. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 value 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 Stock Performance

Shares of CRCT stock traded down $0.09 during trading on Tuesday, hitting $5.45. 556,627 shares of the company were exchanged, compared to its average volume of 602,625. The business’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $4.55. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $6.93. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 12.67 and a beta of 0.25.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The company had revenue of $156.28 million during the quarter, compared to the consensus estimate of $159.95 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%. On average, equities analysts forecast that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “underweight” rating and issued a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. 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 objective on the stock. Zacks Research raised shares of Cricut from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Cricut from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.07.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Cricut by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company’s stock worth $3,687,000 after purchasing an additional 229,663 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Cricut in the second quarter valued at approximately $2,409,000. AXQ Capital LP bought a new position in shares of Cricut in the second quarter valued at approximately $74,000. Bank of America Corp DE lifted its stake 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 buying an additional 64,737 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Cricut by 265.0% in the first quarter. Royal Bank of Canada now owns 8,165 shares of the company’s stock worth $30,000 after buying an additional 5,928 shares during the last quarter. 19.60% of the stock is owned by institutional investors.

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.