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 stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $6.57, for a total value of $394,200.00. Following the sale, the chief executive officer now directly owns 2,931,931 shares in the company, valued at $19,262,786.67. This trade represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, June 16th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.50, for a total value of $390,000.00.
• 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 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 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 stock was 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 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 stock was sold at an average price of $5.25, for a total value of $3,727.50.

Cricut Price Performance

CRCT traded down $0.06 on Friday, reaching $6.54. 625,628 shares of the stock were exchanged, compared to its average volume of 433,886. The company's 50-day moving average price is $5.73 and its 200 day moving average price is $5.63. Cricut, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $7.02. The firm has a market capitalization of $1.39 billion, a PE ratio of 21.10 and a beta of 0.12.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $158.55 million. As a group, equities analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. 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 reaffirmed a "sell" rating and set a $4.00 price target (down previously from $6.00) on shares of Cricut in a research report on Monday, April 14th.

Hedge Funds Weigh In On Cricut

A number of institutional investors have recently modified their holdings of CRCT. Savant Capital LLC raised its stake in shares of Cricut by 40.2% during the 4th quarter. Savant Capital LLC now owns 32,570 shares of the company's stock valued at $186,000 after buying an additional 9,335 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Cricut during the 4th quarter valued at about $67,000. Bank of New York Mellon Corp raised its stake in shares of Cricut by 175.0% during the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock valued at $2,716,000 after buying an additional 303,236 shares during the last quarter. Versor Investments LP raised its stake in shares of Cricut by 37.1% during the 4th quarter. Versor Investments LP now owns 42,500 shares of the company's stock valued at $242,000 after buying an additional 11,500 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Cricut during the 4th quarter valued at about $120,000. Hedge funds and other institutional investors own 19.60% of the company's stock.

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.