Cricut (NASDAQ:CRCT) CEO Sells $237,000.00 in Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $3.95, for a total value of $237,000.00. Following the completion of the sale, the chief executive officer directly owned 4,461,592 shares of the company’s stock, valued at $17,623,288.40. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 3rd, Arora Ashish sold 13,458 shares of Cricut stock. The shares were sold at an average price of $4.25, for a total transaction of $57,196.50.
• On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were 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.

Cricut Stock Performance

NASDAQ CRCT traded up $0.04 during trading on Thursday, hitting $4.01. 356,740 shares of the company’s stock traded hands, compared to its average volume of 553,193. The stock has a market capitalization of $841.69 million, a price-to-earnings ratio of 11.46 and a beta of 0.22. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $7.33. The business has a 50 day moving average of $4.17 and a 200-day moving average of $4.53.

Cricut (NASDAQ:CRCT) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Cricut had a net margin of 10.36% and a return on equity of 21.37%. The business had revenue of $159.47 million during the quarter, compared to analyst estimates of $164.33 million. On average, analysts expect that Cricut, Inc. will post 0.14 EPS for the current year.

Cricut Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a $0.10 dividend. This represents a yield of 474.0%. The ex-dividend date is Tuesday, July 7th. Cricut’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRCT shares. The Goldman Sachs Group reissued a “sell” rating and set a $3.75 price objective on shares of Cricut in a report on Wednesday, May 6th. UBS Group reissued a “cautious” rating on shares of Cricut in a report on Wednesday, March 4th. Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Barclays reaffirmed an “underweight” rating and set a $4.00 price objective on shares of Cricut in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $3.88.

Institutional Investors Weigh In On Cricut

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL raised its position in shares of Cricut by 824.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 358,213 shares of the company’s stock valued at $2,253,000 after buying an additional 319,447 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Cricut during the 3rd quarter valued at $1,324,000. RFG Advisory LLC purchased a new stake in shares of Cricut during the 3rd quarter valued at $75,000. Alps Advisors Inc. purchased a new stake in shares of Cricut during the 3rd quarter valued at $434,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Cricut during the 3rd quarter valued at $436,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.