Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells 21,250 Shares of Stock

Key Points

• Cricut, Inc. CEO Arora Ashish sold 21,250 shares of the company's stock, valued at approximately $118,362.50, resulting in a decrease of 0.70% in his ownership.
• Cricut's stock decreased by 2.5% and traded at $5.52 after experiencing a trading volume of 1,191,278 shares.
• In the latest quarterly earnings, Cricut reported an EPS of $0.11, exceeding analyst expectations of $0.06, alongside revenues of $172.11 million.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 21,250 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50. Following the completion of the sale, the chief executive officer directly owned 3,015,311 shares in the company, valued at approximately $16,795,282.27. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, August 15th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.57, for a total transaction of $118,362.50.
• On Wednesday, July 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.58, for a total transaction of $118,575.00.
• On Monday, July 21st, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.46, for a total transaction of $116,025.00.
• On Wednesday, July 9th, Arora Ashish sold 53,489 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $317,724.66.
• On Monday, July 7th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.25, for a total transaction of $375,000.00.
• On Wednesday, June 18th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.57, for a total transaction of $394,200.00.
• On Monday, June 16th, Arora Ashish 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 Wednesday, June 4th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.33, for a total transaction of $379,800.00.
• On Monday, June 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.22, for a total transaction of $373,200.00.
• On Friday, May 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total transaction of $356,400.00.

Cricut Trading Up 0.4%

NASDAQ CRCT traded up $0.02 on Wednesday, hitting $5.70. 513,495 shares of the company were exchanged, compared to its average volume of 689,421. The firm has a 50 day moving average of $5.86 and a two-hundred day moving average of $5.62. The company has a market cap of $1.21 billion, a P/E ratio of 17.27 and a beta of 0.15. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $172.11 million for the quarter, compared to the consensus estimate of $158.59 million. Cricut had a net margin of 10.09% and a return on equity of 16.49%. Research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Cricut from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Cricut has a consensus rating of "Sell" and an average target price of $4.52.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cricut by 6.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,095 shares of the company's stock valued at $154,000 after acquiring an additional 1,695 shares during the period. Copeland Capital Management LLC raised its position in shares of Cricut by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 13,632 shares of the company's stock valued at $92,000 after acquiring an additional 1,917 shares during the period. First Trust Advisors LP raised its position in shares of Cricut by 1.3% in the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company's stock valued at $1,045,000 after acquiring an additional 1,977 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Cricut by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,468 shares of the company's stock valued at $186,000 after acquiring an additional 2,684 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Cricut by 6.3% in the 1st quarter. XTX Topco Ltd now owns 56,003 shares of the company's stock valued at $288,000 after acquiring an additional 3,326 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.