Insider Selling: Cricut (NASDAQ:CRCT) Insider Sells $106,994.70 in Stock

Key Points

• Ryan Harmer, an insider at Cricut, sold 18,771 shares at an average price of $5.70, totaling approximately $106,994.70, marking a 5.31% reduction in their ownership stake.
• Cricut reported earnings of $0.11 per share, surpassing estimates, with revenues reaching $172.11 million during the recent quarter.
• Despite recent insider selling, several institutional investors, including JPMorgan Chase & Co., have increased their stakes in Cricut, indicating continued interest in the company.

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) insider Ryan Harmer sold 18,771 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $5.70, for a total value of $106,994.70. Following the sale, the insider directly owned 334,951 shares in the company, valued at $1,909,220.70. This trade represents a 5.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ryan Harmer also recently made the following trade(s):

• On Friday, August 8th, Ryan Harmer sold 12,819 shares of Cricut stock. The stock was sold at an average price of $5.68, for a total transaction of $72,811.92.

Cricut Stock Performance

NASDAQ CRCT traded up $0.14 during trading hours on Friday, hitting $6.02. The company had a trading volume of 1,498,289 shares, compared to its average volume of 728,925. The business has a 50 day moving average of $5.84 and a 200-day moving average of $5.62. The company has a market cap of $1.28 billion, a PE ratio of 18.24 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 data on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The company had revenue of $172.11 million during the quarter, compared to analysts' expectations of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. Sell-side analysts expect that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MQS Management LLC acquired a new stake in shares of Cricut during the first quarter worth $59,000. Vanguard Personalized Indexing Management LLC purchased a new position in Cricut during the 2nd quarter worth $80,000. ProShare Advisors LLC acquired a new stake in shares of Cricut in the 4th quarter worth $75,000. Copeland Capital Management LLC lifted its stake 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 worth $92,000 after acquiring an additional 1,917 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Cricut in the fourth quarter valued at about $89,000. Institutional investors and hedge funds own 19.60% of the company's stock.

Analysts Set New Price Targets

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

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.