Cricut (NASDAQ:CRCT) CEO Sells $378,600.00 in Stock

Key Points

• CEO Ashish Arora sold 60,000 Cricut shares at an average price of $6.31, generating $378,600. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 5.03 million shares.
• Arora has conducted a series of similar 60,000-share sales since August, while Cricut shares traded at $6.25 and remained near their 12-month high of $6.82.
• Analysts remain bearish: Cricut has a consensus “Strong Sell” rating and a $4.07 price target, despite beating quarterly EPS expectations with $0.19 versus the $0.06 estimate.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the business's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $6.31, for a total transaction of $378,600.00. Following the sale, the chief executive officer owned 5,028,740 shares of the company's stock, valued at $31,731,349.40. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 23rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.26, for a total transaction of $375,600.00.
• 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 stock was sold at an average price of $5.68, for a total transaction 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 transaction 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 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 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 stock was 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.

Cricut Price Performance

Shares of CRCT traded down $0.16 during midday 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 twelve month low of $3.73 and a twelve month high of $6.82. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 14.54 and a beta of 0.25. The business's 50-day moving average price is $5.97 and its 200 day moving average price is $5.01.

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

Institutional Trading of Cricut

A number of hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cricut by 57,811.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company's stock valued at $26,000 after purchasing an additional 5,203 shares during the period. Royal Bank of Canada raised its stake in shares of Cricut by 265.0% during the 1st 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. Signaturefd LLC acquired a new stake in shares of Cricut in the 3rd quarter valued at approximately $43,000. AXQ Capital LP acquired a new stake in shares of Cricut in the 2nd quarter valued at approximately $74,000. Finally, Diversified Trust Co acquired a new stake in shares of Cricut in the 1st quarter valued at approximately $67,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRCT. Zacks Research cut shares of Cricut from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Morgan Stanley reiterated an "underweight" rating and set a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. The Goldman Sachs Group assumed coverage on shares of Cricut in a research report on Wednesday, August 19th. They set a "sell" rating and a $4.50 price objective on the stock. Finally, Weiss Ratings upgraded shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus target price of $4.07.

Cricut Company Profile

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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