Key Points
- Cricut CEO Arora Ashish sold 60,000 shares on May 20 at an average price of $3.95, totaling $237,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 4.46 million shares.
- Cricut reported mixed quarterly results on May 5, posting EPS of $0.10 versus $0.05 expected, but revenue of $159.47 million fell short of analyst estimates of $164.33 million.
- Analyst sentiment remains bearish, with several firms maintaining sell or underweight ratings and a MarketBeat consensus of "Strong Sell"; the average target price is $3.88.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $3.95, for a total value of $237,000.00. Following the transaction, the chief executive officer directly owned 4,461,592 shares of the company's stock, valued at approximately $17,623,288.40. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arora Ashish also recently made the following trade(s):
- On Tuesday, March 3rd, Arora Ashish sold 13,458 shares of Cricut stock. The shares were sold at an average price of $4.25, for a total transaction of $57,196.50.
- On Monday, March 2nd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.28, for a total value of $256,800.00.
- On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.42, for a total transaction of $265,200.00.
Cricut Trading Up 1.0%
Shares of NASDAQ CRCT opened at $4.01 on Friday. The company has a 50-day moving average of $4.17 and a 200 day moving average of $4.52. The stock has a market cap of $841.70 million, a PE ratio of 11.46 and a beta of 0.22. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $7.33.
Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $159.47 million for the quarter, compared to analyst estimates of $164.33 million. Cricut had a return on equity of 21.37% and a net margin of 10.36%. On average, sell-side analysts forecast that Cricut, Inc. will post 0.14 EPS for the current fiscal year.
Cricut Announces Dividend
The company also recently declared a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a dividend yield of 474.0%. Cricut's payout ratio is presently 57.14%.
Institutional Trading of Cricut
Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in Cricut by 43.7% in the first quarter. Jane Street Group LLC now owns 20,176 shares of the company's stock valued at $104,000 after purchasing an additional 6,140 shares during the period. Legal & General Group Plc grew its stake in shares of Cricut by 15.8% in the second quarter. Legal & General Group Plc now owns 59,246 shares of the company's stock valued at $401,000 after buying an additional 8,095 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Cricut in the 2nd quarter valued at $232,000. Russell Investments Group Ltd. raised its holdings in shares of Cricut by 288.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,017 shares of the company's stock valued at $142,000 after buying an additional 15,610 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Cricut by 20.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock worth $6,169,000 after acquiring an additional 157,448 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on CRCT shares. UBS Group reiterated a "cautious" rating on shares of Cricut in a report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $3.75 price target on shares of Cricut in a research report on Wednesday, May 6th. Weiss Ratings cut Cricut from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, Barclays reissued an "underweight" rating and set a $4.00 target price on shares of Cricut in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Cricut currently has an average rating of "Strong Sell" and a consensus target price of $3.88.
Check Out Our Latest Stock Analysis on CRCT
About Cricut
(
Get Free Report)
Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.
Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.
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