Cricut, Inc. (NASDAQ:CRCT) CEO Sells $317,724.66 in Stock

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 53,489 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.94, for a total value of $317,724.66. Following the sale, the chief executive officer directly owned 2,758,442 shares in the company, valued at approximately $16,385,145.48. This represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 7th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was 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 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.
• On Wednesday, May 21st, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.18, for a total value of $370,800.00.
• On Wednesday, May 14th, 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 Monday, May 12th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.19, for a total value of $371,400.00.

Cricut Stock Performance

Cricut stock traded down $0.33 during midday trading on Friday, reaching $5.30. The stock had a trading volume of 479,818 shares, compared to its average volume of 438,254. The firm's fifty day simple moving average is $6.30 and its 200-day simple moving average is $5.69. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The stock has a market capitalization of $1.12 billion, a P/E ratio of 17.10 and a beta of 0.16.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Cricut had a return on equity of 14.27% and a net margin of 9.48%. On average, sell-side analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a dividend of $0.10 per share. This represents a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, July 7th. Cricut's dividend payout ratio (DPR) is 64.52%.

Analysts Set New Price Targets

Separately, Citigroup reissued a "sell" rating and issued a $4.00 target price (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Cricut during the 1st quarter worth approximately $333,000. Jane Street Group LLC increased its position in shares of Cricut by 43.7% during the 1st quarter. Jane Street Group LLC now owns 20,176 shares of the company's stock worth $104,000 after purchasing an additional 6,140 shares during the last quarter. Ascent Group LLC acquired a new position in shares of Cricut during the 1st quarter worth approximately $218,000. Jacobs Levy Equity Management Inc. increased its position in shares of Cricut by 305.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company's stock worth $1,595,000 after purchasing an additional 233,292 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of Cricut during the 1st quarter worth approximately $500,000. Institutional investors and hedge funds own 19.60% of the company's stock.

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.