Cricut (NASDAQ:CRCT) CEO Arora Ashish Sells 60,000 Shares of Stock

Key Points

• CEO Ashish Arora sold 60,000 Cricut shares at an average price of $5.62, generating $337,200; the sale was executed under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 1.07%.
• Arora has made several additional sales of 60,000 shares since early August, while retaining 5.54 million shares valued at approximately $31.1 million after the latest transaction.
• Cricut shares rose 2.1% to $5.71, but analysts remain cautious: the stock has a consensus “Reduce” rating and an average price target of $4.07, despite the company beating quarterly EPS expectations.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $5.62, for a total transaction of $337,200.00. Following the sale, the chief executive officer owned 5,537,105 shares of the company's stock, valued at $31,118,530.10. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.68, for a total transaction of $340,800.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.61, for a total transaction of $336,600.00.
• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.79, for a total transaction of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.48, for a total value of $328,800.00.
• On Monday, August 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.60, for a total value of $336,000.00.
• On Wednesday, August 5th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.98, for a total value of $358,800.00.
• On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total value of $286,200.00.

Cricut Trading Up 2.1%

Cricut stock traded up $0.12 during trading on Thursday, hitting $5.71. 507,140 shares of the company were exchanged, compared to its average volume of 601,201. The company has a market capitalization of $1.20 billion, a P/E ratio of 13.28 and a beta of 0.25. The business's 50 day moving average is $5.28 and its 200 day moving average is $4.60. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.93.

Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The firm had revenue of $156.28 million for the quarter, compared to the consensus estimate of $159.95 million. Equities analysts expect that Cricut, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRCT shares. Morgan Stanley restated an "underweight" rating and issued a $3.70 target price on shares of Cricut in a research note on Wednesday, August 5th. The Goldman Sachs Group assumed coverage on Cricut in a report on Wednesday, August 19th. They set a "sell" rating and a $4.50 price target on the stock. Weiss Ratings raised Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Cricut from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $4.07.

Institutional Investors Weigh In On Cricut

A number of hedge funds and other institutional investors have recently bought and sold shares of CRCT. Dimensional Fund Advisors LP lifted its position in shares of Cricut by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company's stock worth $3,687,000 after acquiring an additional 229,663 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Cricut in the 2nd quarter worth about $2,409,000. Public Employees Retirement System of Ohio purchased a new position in Cricut during the 2nd quarter valued at about $355,000. Bank of America Corp DE increased its position in shares of Cricut by 124.4% during the first quarter. Bank of America Corp DE now owns 116,790 shares of the company's stock valued at $437,000 after buying an additional 64,737 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Cricut by 265.0% in the first quarter. Royal Bank of Canada now owns 8,165 shares of the company's stock worth $30,000 after buying an additional 5,928 shares in the last quarter. Institutional investors own 19.60% of the company's stock.

Cricut Company Profile

Cricut, Inc develops creative technology products that enable consumers to design and make personalized projects. Its ecosystem combines connected cutting, writing, scoring, and heat-transfer machines with digital design tools, project content, and a broad range of craft materials and accessories.

The company's product portfolio includes Cricut smart cutting machines, such as the Explore, Maker, and Joy families, as well as heat-press equipment and related tools. These products are used for applications including apparel decoration, paper crafts, home décor, personalized gifts, signage, and other do-it-yourself projects.

Cricut also operates a digital platform that provides design software, ready-to-make projects, fonts, images, and subscription-based content.

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