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

Key Points

• Cricut CEO Ashish Arora sold 60,000 shares at an average price of $6.26, generating $375,600; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.21%.
• Arora has repeatedly sold 60,000-share blocks since August, while retaining 4,908,740 shares valued at approximately $30.7 million.
• Cricut reported quarterly EPS of $0.19, exceeding estimates, but analysts remain bearish: the stock has a consensus “Strong Sell” rating and an average price target of $4.07, below its recent $6.25 price.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of Cricut stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $6.26, for a total value of $375,600.00. Following the completion of the sale, the chief executive officer owned 4,908,740 shares of the company's stock, valued at approximately $30,728,712.40. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.31, for a total transaction of $378,600.00.
• On Monday, October 5th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.43, for a total transaction of $385,800.00.
• On Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.50, for a total transaction of $390,000.00.
• 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 value of $340,800.00.
• On Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.62, for a total value of $337,200.00.
• On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.61, for a total value of $336,600.00.
• On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.79, for a total value of $347,400.00.
• On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was 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 shares were sold at an average price of $5.98, for a total value of $358,800.00.

Cricut Price Performance

Shares of NASDAQ:CRCT traded down $0.16 during trading on Friday, reaching $6.25. 553,877 shares of the stock were exchanged, compared to its average volume of 608,065. Cricut, Inc. has a 1-year low of $3.73 and a 1-year high of $6.82. The stock has a fifty day moving average of $5.97 and a two-hundred day moving average of $5.01. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 14.54 and a beta of 0.25.

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

Hedge Funds Weigh In On Cricut

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Cricut in the second quarter valued at about $2,409,000. 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 valued at $3,687,000 after purchasing an additional 229,663 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company's stock valued at $30,000 after purchasing an additional 5,928 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Cricut by 145.3% during the third quarter. Nisa Investment Advisors LLC now owns 30,739 shares of the company's stock worth $196,000 after purchasing an additional 18,207 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Cricut during the second quarter worth about $355,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRCT shares. The Goldman Sachs Group started coverage on shares of Cricut in a research report on Wednesday, August 19th. They issued a "sell" rating and a $4.50 price target on the stock. Weiss Ratings upgraded Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Zacks Research lowered Cricut from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $3.70 price objective on shares of Cricut in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average price target of $4.07.

About Cricut

Cricut, Inc develops and sells connected cutting machines and related products for do-it-yourself crafting, personalization and small-scale creative production. Its systems are designed to cut, draw, score and apply materials such as paper, vinyl, fabric, leather and iron-on transfers, enabling users to create customized home décor, apparel, gifts and other projects.

The company's product portfolio includes Cricut smart cutting machines, heat presses, specialized tools and a broad range of consumable materials.

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