Insider Selling: Cricut, Inc. (NASDAQ:CRCT) General Counsel Sells 40,491 Shares of Stock

Key Points

• Cricut, Inc.'s General Counsel, Matt Tuttle, sold 40,491 shares of stock at an average price of $5.69, decreasing his ownership by approximately 10.95%.
• Cricut reported $0.11 earnings per share for the quarter, exceeding estimates of $0.06 and achieving revenues of $172.11 million compared to the expected $158.59 million.
• Analyst ratings for Cricut vary, with Wall Street Zen upgrading the stock to a "buy" while Citigroup maintains a "sell" rating with a price target lowered to $4.00.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) General Counsel Matt Tuttle sold 40,491 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $5.69, for a total transaction of $230,393.79. Following the completion of the sale, the general counsel directly owned 329,164 shares in the company, valued at $1,872,943.16. This represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cricut Stock Down 0.2%

CRCT stock traded down $0.01 during trading on Tuesday, hitting $5.56. 683,502 shares of the company's stock traded hands, compared to its average volume of 482,801. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33. The stock has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $5.61. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.85 and a beta of 0.15.

Cricut (NASDAQ:CRCT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Cricut had a net margin of 10.09% and a return on equity of 16.49%. The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $158.59 million. As a group, equities research analysts expect that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CRCT shares. Wall Street Zen raised shares of Cricut from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup reaffirmed a "sell" rating and issued a $4.00 price target (down from $6.00) on shares of Cricut in a report on Monday, April 14th.

Institutional Trading of Cricut

Several institutional investors have recently added to or reduced their stakes in CRCT. MQS Management LLC bought a new stake in Cricut during the first quarter valued at $59,000. ProShare Advisors LLC bought a new position in shares of Cricut during the fourth quarter worth about $75,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Cricut during the second quarter worth about $80,000. Public Employees Retirement System of Ohio bought a new position in shares of Cricut during the fourth quarter worth about $89,000. Finally, Copeland Capital Management LLC grew its position in shares of Cricut by 16.4% during the second quarter. Copeland Capital Management LLC now owns 13,632 shares of the company's stock worth $92,000 after acquiring an additional 1,917 shares during the last quarter. Institutional investors own 19.60% of the company's stock.

Cricut Company Profile

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.

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