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

Key Points

• CEO Arora Ashish sold 21,250 shares of Cricut, Inc. at an average price of $5.47, totaling $116,237.50, reducing his ownership by 0.78%.
• Cricut's shares saw a slight increase of 0.2%, trading at $5.22 during midday, with a market capitalization of $1.11 billion.
• Despite recently posting better-than-expected earnings, analysts have downgraded Cricut's stock from "buy" to "hold", with an average rating labeled as a "Strong Sell".

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 21,250 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $5.47, for a total transaction of $116,237.50. Following the completion of the transaction, the chief executive officer directly owned 2,696,561 shares in the company, valued at approximately $14,750,188.67. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total value of $90,665.08.
• On Thursday, October 16th, Arora Ashish sold 11,211 shares of Cricut stock. The shares were sold at an average price of $5.27, for a total value of $59,081.97.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.66, for a total value of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.81, for a total transaction of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.42, for a total transaction of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.77, for a total value of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.36, for a total value of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.16, for a total value of $130,900.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.75, for a total transaction of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.94, for a total value of $126,225.00.

Cricut Stock Up 0.2%

Shares of CRCT traded up $0.01 during mid-day trading on Friday, hitting $5.22. 564,491 shares of the company's stock traded hands, compared to its average volume of 532,050. The business's 50-day moving average price is $5.97 and its 200-day moving average price is $5.77. The firm has a market capitalization of $1.11 billion, a P/E ratio of 15.82 and a beta of 0.18. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33.

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

Institutional Trading of Cricut

A number of hedge funds have recently bought and sold shares of CRCT. Osaic Holdings Inc. boosted its position in Cricut by 255.9% in the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company's stock worth $25,000 after purchasing an additional 2,620 shares during the last quarter. MQS Management LLC bought a new stake in Cricut during the first quarter valued at approximately $59,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Cricut during the second quarter valued at approximately $80,000. Copeland Capital Management LLC raised its position in Cricut by 16.4% in the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company's stock worth $92,000 after acquiring an additional 1,917 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Cricut during the 1st quarter worth $97,000. Hedge funds and other institutional investors own 19.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRCT shares. Wall Street Zen cut shares of Cricut from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cricut in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group downgraded Cricut from a "neutral" rating to a "sell" rating and cut their price target for the stock from $5.50 to $4.75 in a research note on Thursday. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Cricut has an average rating of "Strong Sell" and a consensus price target of $4.18.

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.

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