Arora Ashish Sells 60,000 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 60,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.22, for a total value of $373,200.00. Following the completion of the transaction, the chief executive officer now owns 3,231,931 shares in the company, valued at $20,102,610.82. The trade was a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, June 4th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were 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 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 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 value 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 shares were 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 stock was sold at an average price of $5.40, for a total value of $128,590.20.

Cricut Stock Performance

CRCT 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. 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, Inc. has a 52-week low of $3.94 and a 52-week high of $7.17. The business has a 50 day moving average of $5.40 and a 200-day moving average of $5.55.

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 company had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. Research analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Cuts Dividend

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

Hedge Funds Weigh In On Cricut

A number of large investors have recently made changes to their positions in CRCT. Bank of New York Mellon Corp lifted its stake in Cricut by 175.0% in the fourth quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock worth $2,716,000 after purchasing an additional 303,236 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cricut by 25.8% during the fourth quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock valued at $6,783,000 after buying an additional 244,058 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Cricut by 305.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company's stock worth $1,595,000 after buying an additional 233,292 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Cricut during the 4th quarter worth approximately $1,029,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Cricut during the 4th quarter valued at $651,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.