Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 17,204 Shares

Key Points

• Cricut CEO Arora Ashish sold a total of 17,204 shares at an average price of $5.27, amounting to approximately $90,665, reducing his ownership by 0.64%.
• Recent earnings reported by Cricut showed $0.11 EPS, surpassing analyst expectations of $0.06, with revenue of $172.11 million compared to forecasts of $158.59 million.
• Wall Street analysts have downgraded Cricut's stock rating, with Goldman Sachs cutting its target price from $5.50 to $4.75, reflecting increasing bearish sentiment.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 17,204 shares of the business's stock in a transaction on Friday, October 17th. The shares were sold at an average price of $5.27, for a total value of $90,665.08. Following the completion of the sale, the chief executive officer owned 2,668,146 shares in the company, valued at $14,061,129.42. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, October 16th, Arora Ashish sold 11,211 shares of Cricut stock. The shares were sold at an average price of $5.27, for a total transaction of $59,081.97.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.47, for a total transaction of $116,237.50.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.66, for a total transaction of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.81, for a total value of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.42, for a total value of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.77, for a total value of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.36, for a total transaction of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.16, for a total transaction of $130,900.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.75, for a total value of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $126,225.00.

Cricut Price Performance

Shares of Cricut stock traded up $0.01 during trading hours on Friday, hitting $5.22. The company had a trading volume of 564,491 shares, compared to its average volume of 532,050. The company's 50-day moving average is $5.97 and its two-hundred day moving average is $5.77. The company has a market cap of $1.11 billion, a P/E ratio of 15.82 and a beta of 0.18. Cricut, Inc. has a twelve month low of $3.94 and a twelve month high of $7.33.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The firm had revenue of $172.11 million during the quarter, compared to analysts' expectations of $158.59 million. Sell-side analysts expect that Cricut, Inc. will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its stake in Cricut by 255.9% in the 2nd quarter. Osaic Holdings Inc. now owns 3,644 shares of the company's stock valued at $25,000 after purchasing an additional 2,620 shares in the last quarter. MQS Management LLC purchased a new position in shares of Cricut in the first quarter valued at $59,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Cricut during the 2nd quarter worth $80,000. Copeland Capital Management LLC boosted its position in shares of Cricut by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 13,632 shares of the company's stock worth $92,000 after buying an additional 1,917 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Cricut in the 1st quarter valued at about $97,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CRCT. The Goldman Sachs Group lowered Cricut from a "neutral" rating to a "sell" rating and cut their price target for the stock from $5.50 to $4.75 in a research report on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cricut in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Cricut from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Strong Sell" and a consensus target price of $4.18.

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.

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