Arora Ashish Sells 21,250 Shares of Cricut (NASDAQ:CRCT) Stock

Key Points

• Cricut, Inc. CEO Arora Ashish sold 21,250 shares of the company's stock on August 15, 2023, for a total of $118,362.50, reducing his position by 0.71%.
• On the same day, Cricut's stock price decreased by 2.5%, closing at $5.52.
• Institutional investments in Cricut saw significant increases, with firms like Ameriprise Financial and Jane Street Group boosting their holdings by 238.9% and 356.3% respectively during the second quarter.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 21,250 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50. Following the transaction, the chief executive officer directly owned 2,972,811 shares in the company, valued at $16,558,557.27. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, August 13th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.58, for a total transaction of $118,575.00.
• On Monday, July 21st, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.46, for a total transaction of $116,025.00.
• On Wednesday, July 9th, Arora Ashish sold 53,489 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $317,724.66.
• On Monday, July 7th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.25, for a total value of $375,000.00.
• On Wednesday, June 18th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.57, for a total value of $394,200.00.
• On Monday, June 16th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was 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 stock was sold at an average price of $5.94, for a total value of $356,400.00.

Cricut Stock Up 0.4%

Shares of CRCT stock traded up $0.02 during trading hours on Wednesday, reaching $5.70. 513,495 shares of the company's stock were exchanged, compared to its average volume of 689,421. Cricut, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $7.33. The stock has a market capitalization of $1.21 billion, a P/E ratio of 17.27 and a beta of 0.15. The business has a fifty day moving average price of $5.86 and a 200-day moving average price of $5.62.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The business had revenue of $172.11 million for the quarter, compared to the consensus estimate of $158.59 million. As a group, research analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Cricut from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Sell" and an average target price of $4.52.

Institutional Investors Weigh In On Cricut

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Cricut by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 1,544,659 shares of the company's stock valued at $10,457,000 after buying an additional 159,339 shares during the period. Geode Capital Management LLC increased its holdings in Cricut by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,525 shares of the company's stock valued at $9,449,000 after buying an additional 91,339 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Cricut by 20.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock valued at $6,169,000 after buying an additional 157,448 shares during the period. Renaissance Technologies LLC increased its holdings in Cricut by 9.9% in the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after buying an additional 55,011 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Cricut by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 485,840 shares of the company's stock valued at $2,502,000 after buying an additional 9,300 shares during the period. Institutional investors own 19.60% of the company's stock.

About Cricut

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.