Insider Selling: Cricut (NASDAQ:CRCT) CEO Sells 11,211 Shares of Stock

Key Points

• Cricut CEO Arora Ashish sold a total of 11,211 shares of stock on October 16th for approximately $59,082, decreasing his ownership by 0.42% to around 2.68 million shares valued at $14.15 million.
• Cricut's stock recently traded at $5.22, showing a slight increase of 0.2% with a market capitalization of $1.11 billion, but analysts are forecasting a "Strong Sell" rating with an average target price of $4.18.
• Institutional investors have recently increased their positions in Cricut, with notable increases including a 412% growth in shares owned by CWM LLC during Q3.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 11,211 shares of the firm's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $5.27, for a total value of $59,081.97. Following the sale, the chief executive officer directly owned 2,685,350 shares in the company, valued at approximately $14,151,794.50. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 17th, Arora Ashish sold 17,204 shares of Cricut stock. The stock was sold at an average price of $5.27, for a total value of $90,665.08.
• On Wednesday, October 15th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.47, for a total transaction of $116,237.50.
• On Wednesday, October 8th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.66, for a total transaction of $120,275.00.
• On Monday, October 6th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.81, for a total transaction of $123,462.50.
• On Thursday, September 25th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.42, for a total transaction of $136,425.00.
• On Tuesday, September 23rd, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.77, for a total transaction of $143,862.50.
• On Thursday, September 11th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $6.36, for a total transaction of $135,150.00.
• On Tuesday, September 9th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $6.16, for a total value of $130,900.00.
• On Wednesday, August 27th, Arora Ashish sold 21,250 shares of Cricut stock. The shares were sold at an average price of $5.75, for a total value of $122,187.50.
• On Monday, August 25th, Arora Ashish sold 21,250 shares of Cricut stock. The stock was sold at an average price of $5.94, for a total value of $126,225.00.

Cricut Stock Up 0.2%

Shares of Cricut stock traded up $0.01 on Friday, reaching $5.22. The company's stock had a trading volume of 564,491 shares, compared to its average volume of 532,050. The company has a market capitalization of $1.11 billion, a P/E ratio of 15.82 and a beta of 0.18. The stock has a 50-day moving average price of $5.97 and a 200-day moving average price of $5.77. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.33.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRCT. CWM LLC grew its position in shares of Cricut by 412.0% in the third quarter. CWM LLC now owns 32,811 shares of the company's stock valued at $206,000 after purchasing an additional 26,403 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Cricut by 9.1% during the third quarter. Exchange Traded Concepts LLC now owns 40,407 shares of the company's stock worth $254,000 after buying an additional 3,370 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company's stock worth $25,000 after buying an additional 2,620 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Cricut by 238.9% during the second quarter. Ameriprise Financial Inc. now owns 131,933 shares of the company's stock worth $893,000 after buying an additional 93,002 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Cricut by 356.3% in the 2nd quarter. Jane Street Group LLC now owns 92,057 shares of the company's stock valued at $623,000 after buying an additional 71,881 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRCT has been the topic of a number of research reports. The Goldman Sachs Group lowered shares of Cricut from a "neutral" rating to a "sell" rating and decreased their price target for the company from $5.50 to $4.75 in a research note on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Cricut in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Cricut from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Cricut presently has an average rating of "Strong Sell" and an average target price of $4.18.

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.

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