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

Key Points

• CEO Ashish Arora sold 60,000 Cricut shares at an average price of $6.43, generating $385,800. The sale occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 5.09 million shares.
• Cricut shares fell 0.8% to $6.47, but remain near their 52-week high of $6.66 and above their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.19, exceeding the $0.06 consensus estimate, while revenue of $156.28 million fell short of expectations.
• Analyst sentiment remains cautious: Cricut has a consensus “Reduce” rating and an average price target of $4.07, despite some institutional investors increasing their positions.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the firm's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $6.43, for a total transaction of $385,800.00. Following the completion of the transaction, the chief executive officer directly owned 5,088,740 shares in the company, valued at $32,720,598.20. This represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.50, for a total value 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 value 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 transaction 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 transaction 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 transaction of $286,200.00.

Cricut Stock Down 0.8%

Shares of CRCT stock traded down $0.05 during trading hours on Monday, reaching $6.47. 617,212 shares of the stock traded hands, compared to its average volume of 632,377. The business has a fifty day moving average price of $5.70 and a 200 day moving average price of $4.78. The firm has a market capitalization of $1.36 billion, a PE ratio of 15.05 and a beta of 0.25. Cricut, Inc. has a 1-year low of $3.73 and a 1-year high of $6.66.

Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating 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. Research analysts expect that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRCT shares. Zacks Research raised Cricut from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. 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. Finally, The Goldman Sachs Group began coverage on Cricut in a research note on Wednesday, August 19th. They set a "sell" rating and a $4.50 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target 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 the company. AXQ Capital LP bought a new position in Cricut in the second quarter valued at $74,000. Public Employees Retirement System of Ohio bought a new stake in shares of Cricut during the 2nd quarter worth about $355,000. Bank of New York Mellon Corp acquired a new stake in Cricut during the 2nd quarter worth approximately $2,409,000. Bank of America Corp DE boosted its position in shares of Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company's stock valued at $437,000 after acquiring an additional 64,737 shares during the period. Finally, Royal Bank of Canada raised its position 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 valued at $30,000 after buying an additional 5,928 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.

Cricut Company Profile

Cricut, Inc develops and sells digital crafting technology that enables users to design, make and personalize projects. Its ecosystem includes connected cutting, heat-press, engraving and other crafting machines, along with the company's Design Space software, which allows users to create projects, prepare designs and operate compatible devices.

The company also offers a broad selection of consumable materials and accessories, including vinyl, iron-on materials, paper, specialty fabrics, cutting tools, replacement components and related crafting supplies.

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