Insider Selling: Cricut, Inc. (NASDAQ:CRCT) CEO Sells 60,000 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.22, for a total value of $373,200.00. Following the sale, the chief executive officer now directly owns 3,231,931 shares of the company's stock, valued at $20,102,610.82. This represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 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 transaction 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 transaction 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 transaction 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.
• On Thursday, March 27th, Arora Ashish sold 5,283 shares of Cricut stock. The stock was 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 shares were sold at an average price of $5.25, for a total value 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 value 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 Stock Performance

Shares of NASDAQ CRCT traded up $0.02 during mid-day trading on Friday, hitting $6.50. The stock had a trading volume of 235,745 shares, compared to its average volume of 441,312. The company has a 50 day moving average of $5.38 and a two-hundred day moving average of $5.53. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.17. The firm has a market cap of $1.38 billion, a PE ratio of 23.34 and a beta of 0.12.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.63 million during 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%. Equities research analysts predict that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cricut

Several large investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Cricut in the fourth quarter valued at $36,000. MQS Management LLC purchased a new position in shares of Cricut during the 1st quarter valued at about $59,000. Olympiad Research LP acquired a new position in shares of Cricut in the 4th quarter valued at about $67,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Cricut in the fourth quarter worth about $72,000. Finally, ProShare Advisors LLC acquired a new stake in Cricut during the fourth quarter worth about $75,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

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.