Arora Ashish Sells 21,250 Shares of Cricut, Inc. (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 company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $5.57, for a total value of $118,362.50. Following the sale, the chief executive officer owned 2,972,811 shares of the company's stock, valued at $16,558,557.27. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 value of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.58, for a total value of $118,575.00.
• On Monday, July 21st, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.46, for a total value of $116,025.00.
• On Wednesday, July 9th, Arora Ashish sold 53,489 shares of Cricut stock. The shares were sold at an average price of $5.94, for a total value 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 shares were 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 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 stock was 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 stock was 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 Down 2.5%

Shares of Cricut stock traded down $0.14 during trading on Friday, hitting $5.52. 1,191,278 shares of the stock traded hands, compared to its average volume of 488,151. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 16.73 and a beta of 0.15. The firm's fifty day moving average is $5.93 and its 200-day moving average is $5.61. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $172.11 million during the quarter, compared to analysts' expectations of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. On average, analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cricut

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its position in Cricut by 238.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 131,933 shares of the company's stock valued at $893,000 after buying an additional 93,002 shares in the last quarter. Jane Street Group LLC increased its position in Cricut by 356.3% during the 2nd quarter. Jane Street Group LLC now owns 92,057 shares of the company's stock valued at $623,000 after buying an additional 71,881 shares in the last quarter. First Trust Advisors LP increased its position in Cricut by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company's stock valued at $1,045,000 after buying an additional 1,977 shares in the last quarter. Invesco Ltd. increased its position in Cricut by 62.8% during the 2nd quarter. Invesco Ltd. now owns 55,971 shares of the company's stock valued at $379,000 after buying an additional 21,582 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Cricut by 20.9% during 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 in the last quarter. Hedge funds and other institutional investors own 19.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Cricut from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.