Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells 70,000 Shares of Company Stock

Key Points

• CEO Ashish Arora sold 70,000 Cricut shares at an average price of $8.58, totaling $600,600. The sale was made under a pre-arranged Rule 10b5-1 trading plan; Arora retained 4,698,740 shares.
• Cricut reported quarterly EPS of $0.13, beating the $0.05 consensus, and revenue of $188.62 million, above expectations of $172.02 million.
• Shares traded at $8.65, while MarketBeat reported a “Strong Sell” analyst consensus and an average price target of $4.73.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 70,000 shares of the company's stock in a transaction on Friday, November 13th. The stock was sold at an average price of $8.58, for a total value of $600,600.00. Following the transaction, the chief executive officer directly owned 4,698,740 shares in the company, valued at $40,315,189.20. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Wednesday, November 11th, Ashish Arora sold 70,000 shares of Cricut stock. The stock was sold at an average price of $8.95, for a total value of $626,500.00.
• 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 value of $375,600.00.
• 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 stock was 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 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 stock was 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 transaction of $328,800.00.

Cricut Stock Performance

CRCT traded up $0.15 on Friday, hitting $8.65. 975,590 shares of the company were exchanged, compared to its average volume of 679,374. The business's fifty day moving average is $6.49 and its 200 day moving average is $5.02. Cricut, Inc. has a fifty-two week low of $3.73 and a fifty-two week high of $9.70. The firm has a market capitalization of $1.81 billion, a P/E ratio of 18.80 and a beta of 0.24.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.08. Cricut had a net margin of 13.42% and a return on equity of 25.88%. The company had revenue of $188.62 million during the quarter, compared to analysts' expectations of $172.02 million. Analysts forecast that Cricut, Inc. will post 0.32 EPS for the current fiscal year.

Cricut Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, January 21st. Investors of record on Thursday, January 7th will be paid a $0.10 dividend. This represents a yield of 228.0%. The ex-dividend date of this dividend is Thursday, January 7th. Cricut's dividend payout ratio (DPR) is presently 43.48%.

Institutional Trading of Cricut

Several institutional investors and hedge funds have recently modified their holdings of CRCT. First Trust Advisors LP grew its position in shares of Cricut by 25.4% in the third quarter. First Trust Advisors LP now owns 206,664 shares of the company's stock valued at $1,319,000 after purchasing an additional 41,904 shares during the last quarter. Ieq Capital LLC increased its stake in shares of Cricut by 19.4% during the 3rd quarter. Ieq Capital LLC now owns 67,994 shares of the company's stock worth $434,000 after purchasing an additional 11,039 shares in the last quarter. Royce & Associates LP increased its stake in shares of Cricut by 35.5% during the 3rd quarter. Royce & Associates LP now owns 32,650 shares of the company's stock worth $208,000 after purchasing an additional 8,550 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Cricut during the 3rd quarter worth approximately $73,000. Finally, Russell Investments Group Ltd. raised its position in shares of Cricut by 14.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,920 shares of the company's stock worth $529,000 after purchasing an additional 10,223 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised Cricut from a "hold" rating to a "buy" rating in a report on Saturday, November 7th. The Goldman Sachs Group began coverage on Cricut in a research report on Wednesday, August 19th. They set a "sell" rating and a $4.50 target price on the stock. Zacks Research lowered Cricut from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Weiss Ratings upgraded Cricut from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, November 3rd. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average target price of $4.73.

Cricut Company Profile

Cricut, Inc. provides a platform of products and services for people who create personalized projects. Its offerings include connected cutting machines, heat presses, tools and materials used to make items such as cards, home décor, apparel and gifts. The company also offers Design Space, a digital design application that lets users create or customize projects and send them to compatible Cricut machines. Optional subscription services provide access to additional designs and other creative content.

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