Cricut, Inc. (NASDAQ:CRCT) CEO Sells $379,800.00 in Stock

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $6.33, for a total value of $379,800.00. Following the transaction, the chief executive officer now owns 3,111,931 shares in the company, valued at $19,698,523.23. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 shares were 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 stock was 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 stock was sold at an average price of $6.19, for a total value of $371,400.00.
• On Thursday, March 27th, Arora Ashish sold 5,283 shares of Cricut stock. The shares were sold at an average price of $5.25, for a total transaction of $27,735.75.
• On Tuesday, March 25th, Arora Ashish sold 710 shares of Cricut stock. The stock was sold at an average price of $5.25, for a total transaction of $3,727.50.
• On Friday, March 14th, Arora Ashish sold 35,203 shares of Cricut stock. The stock was sold at an average price of $5.37, for a total transaction of $189,040.11.
• On Wednesday, March 12th, Arora Ashish sold 23,813 shares of Cricut stock. The shares were sold at an average price of $5.40, for a total transaction of $128,590.20.

Cricut Price Performance

Cricut stock traded down $0.06 during midday trading on Friday, reaching $6.42. 410,756 shares of the company traded hands, compared to its average volume of 440,947. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.17. The business has a 50 day moving average of $5.40 and a two-hundred day moving average of $5.55. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.93 and a beta of 0.12.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million for the quarter, compared to analysts' expectations of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. As a group, equities analysts forecast that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a $0.10 dividend. This represents a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 7th. Cricut's dividend payout ratio is 64.52%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cricut by 6.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company's stock valued at $154,000 after buying an additional 1,695 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cricut by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock valued at $186,000 after acquiring an additional 2,684 shares during the period. XTX Topco Ltd grew its position in shares of Cricut by 6.3% during the 1st quarter. XTX Topco Ltd now owns 56,003 shares of the company's stock valued at $288,000 after acquiring an additional 3,326 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Cricut by 11.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 33,846 shares of the company's stock worth $193,000 after purchasing an additional 3,365 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Cricut by 4.5% in the 4th quarter. Algert Global LLC now owns 97,323 shares of the company's stock worth $555,000 after purchasing an additional 4,213 shares during the period. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRCT shares. Citigroup reissued a "sell" rating and issued a $4.00 target price (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th. Morgan Stanley dropped their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a research report on Thursday, March 6th.

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.