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 Cricut stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $6.25, for a total transaction of $375,000.00. Following the transaction, the chief executive officer directly owned 2,871,931 shares of the company's stock, valued at approximately $17,949,568.75. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, July 9th, Arora Ashish sold 53,489 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $317,724.66.
• 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 transaction 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 transaction of $390,000.00.
• 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 transaction 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 transaction 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 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 shares were 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 transaction of $371,400.00.

Cricut Stock Performance

NASDAQ CRCT traded down $0.26 during trading hours on Thursday, reaching $5.63. The company's stock had a trading volume of 806,118 shares, compared to its average volume of 439,540. The stock has a market cap of $1.19 billion, a PE ratio of 18.16 and a beta of 0.16. Cricut, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $7.33. The company's 50-day moving average is $6.28 and its two-hundred day moving average is $5.69.

Cricut (NASDAQ:CRCT - Get Free Report) last released 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 company had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Cricut had a net margin of 9.48% and a return on equity of 14.27%. Equities analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MQS Management LLC purchased a new position in shares of Cricut during the 1st quarter worth about $59,000. Caisse Des Depots ET Consignations purchased a new position in Cricut in the fourth quarter valued at approximately $72,000. ProShare Advisors LLC purchased a new position in Cricut in the fourth quarter valued at approximately $75,000. Orion Portfolio Solutions LLC purchased a new position in Cricut in the fourth quarter valued at approximately $84,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Cricut in the fourth quarter valued at approximately $89,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.