Insider Selling: Cricut (NASDAQ:CRCT) Insider Sells 18,771 Shares of 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 business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $5.70, for a total value of $106,994.70. Following the completion of the sale, the insider directly owned 334,951 shares in the company, valued at approximately $1,909,220.70. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Cricut Trading Up 2.2%

Cricut stock traded up $0.12 during mid-day trading on Tuesday, hitting $5.68. The company had a trading volume of 521,723 shares, compared to its average volume of 487,627. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.33. The company has a market capitalization of $1.21 billion, a PE ratio of 17.21 and a beta of 0.15. The stock's 50 day moving average price is $5.89 and its two-hundred day moving average price is $5.61.

Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly 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. The firm had revenue of $172.11 million during the quarter, compared to the consensus estimate of $158.59 million. Cricut had a return on equity of 16.49% and a net margin of 10.09%. Equities research analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRCT. JPMorgan Chase & Co. boosted its holdings in Cricut by 13.9% in the fourth quarter. JPMorgan Chase & Co. now owns 210,783 shares of the company's stock worth $1,201,000 after purchasing an additional 25,685 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cricut by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company's stock worth $6,246,000 after buying an additional 14,191 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Cricut by 45.3% in the fourth quarter. Wells Fargo & Company MN now owns 23,417 shares of the company's stock worth $133,000 after acquiring an additional 7,305 shares during the period. Legal & General Group Plc grew its holdings in shares of Cricut by 17.2% in the fourth quarter. Legal & General Group Plc now owns 53,149 shares of the company's stock worth $303,000 after acquiring an additional 7,811 shares during the period. Finally, Renaissance Technologies LLC increased its position in Cricut by 9.9% during the fourth quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after acquiring an additional 55,011 shares during the last quarter. 19.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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