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, June 16th. The shares were sold at an average price of $6.50, for a total value of $390,000.00. Following the completion of the transaction, the chief executive officer now owns 3,051,931 shares of the company's stock, valued at approximately $19,837,551.50. This represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 18th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.57, for a total value of $394,200.00.
• 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 value of $379,800.00.
• On Monday, June 2nd, 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 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 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.
• 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.

Cricut Price Performance

Shares of NASDAQ CRCT traded down $0.06 during midday trading on Friday, hitting $6.54. 625,628 shares of the company's stock were exchanged, compared to its average volume of 433,886. The firm's fifty day simple moving average is $5.73 and its 200-day simple moving average is $5.63. The company has a market cap of $1.39 billion, a PE ratio of 21.10 and a beta of 0.12. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.02.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its 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. Cricut had a return on equity of 14.27% and a net margin of 9.48%. The company had revenue of $162.63 million for the quarter, compared to the consensus estimate of $158.55 million. Equities analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 21st. Investors 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 yield of 3.3%. Cricut's dividend payout ratio is presently 64.52%.

Hedge Funds Weigh In On Cricut

Several hedge funds and other institutional investors have recently bought and sold shares of CRCT. Bank of New York Mellon Corp increased 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 valued at $2,716,000 after purchasing an additional 303,236 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Cricut by 25.8% in the fourth quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock worth $6,783,000 after buying an additional 244,058 shares during the period. Jacobs Levy Equity Management Inc. boosted its position 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 purchased a new stake in shares of Cricut in the fourth quarter worth about $1,029,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Cricut in the fourth quarter worth about $651,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRCT has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research report on Thursday, March 6th. Citigroup restated a "sell" rating and set a $4.00 target price (down from $6.00) on shares of Cricut in a 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.