Insider Selling: Cricut, Inc. (NASDAQ:CRCT) Insider Sells 12,819 Shares of Stock

Key Points

• Ryan Harmer, an insider at Cricut, Inc., sold 12,819 shares of the company’s stock at an average price of $5.68, resulting in a total transaction of $72,811.92, and reducing his ownership by 3.50%.
• Cricut reported earnings of $0.11 EPS for the last quarter, exceeding analysts' expectations of $0.06, with revenue reaching $172.11 million compared to the estimated $158.59 million.
• Cricut's stock experienced a slight decline of 0.2%, trading at $5.56, while its market cap stands at $1.18 billion.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) insider Ryan Harmer sold 12,819 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $5.68, for a total transaction of $72,811.92. Following the sale, the insider owned 353,722 shares in the company, valued at $2,009,140.96. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cricut Stock Down 0.2%

Cricut stock traded down $0.01 during midday trading on Tuesday, reaching $5.56. The stock had a trading volume of 683,502 shares, 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 firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.85 and a beta of 0.15. The company has a fifty day moving average of $5.97 and a 200 day moving average of $5.61.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates 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%. Equities research analysts predict that Cricut, Inc. will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Cricut

Hedge funds have recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in Cricut in the 1st quarter worth about $59,000. ProShare Advisors LLC bought a new position in shares of Cricut during the fourth quarter valued at approximately $75,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Cricut during the second quarter valued at approximately $80,000. Public Employees Retirement System of Ohio bought a new position in shares of Cricut during the fourth quarter valued at approximately $89,000. Finally, Copeland Capital Management LLC boosted its stake 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 valued at $92,000 after purchasing an additional 1,917 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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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