Cricut (NASDAQ:CRCT) CEO Sells $120,275.00 in Stock

Key Points

• Cricut CEO Arora Ashish sold 21,250 shares of the company on October 8th for approximately $120,275, decreasing his total ownership to 2,717,811 shares valued at about $15.4 million.
• The stock price has fluctuated between a 1-year low of $3.94 and a high of $7.33, currently trading at $5.67.
• Cricut recently reported $0.11 earnings per share for the last quarter, exceeding expectations, along with a revenue of $172.11 million.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 21,250 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $5.66, for a total transaction of $120,275.00. Following the transaction, the chief executive officer owned 2,717,811 shares in the company, valued at approximately $15,382,810.26. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.81, for a total transaction 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 transaction of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.77, for a total transaction of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were 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 shares were 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 transaction of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.94, for a total transaction of $126,225.00.
• On Friday, August 15th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, August 13th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.58, for a total transaction of $118,575.00.

Cricut Trading Up 2.2%

CRCT traded up $0.12 during trading on Wednesday, hitting $5.67. 595,313 shares of the company traded hands, compared to its average volume of 528,744. The company has a market cap of $1.20 billion, a PE ratio of 17.18 and a beta of 0.18. The stock's 50-day simple moving average is $5.93 and its two-hundred day simple moving average is $5.76. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.33.

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

Analyst Upgrades and Downgrades

Several research firms have commented on CRCT. Wall Street Zen lowered shares of Cricut from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings restated a "hold (c)" rating on shares of Cricut in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cricut currently has an average rating of "Reduce" and an average price target of $4.52.

Institutional Investors Weigh In On Cricut

Several large investors have recently modified their holdings of CRCT. Jacobs Levy Equity Management Inc. raised its holdings in shares of Cricut by 305.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 309,756 shares of the company's stock valued at $1,595,000 after purchasing an additional 233,292 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Cricut by 16.4% in the 1st quarter. American Century Companies Inc. now owns 1,385,320 shares of the company's stock valued at $7,134,000 after purchasing an additional 195,301 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cricut by 20.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock valued at $6,169,000 after purchasing an additional 157,448 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Cricut during the 1st quarter worth approximately $541,000. Finally, Ieq Capital LLC bought a new position in shares of Cricut during the 1st quarter worth approximately $500,000. 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.

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