Key Points
- Cricut CEO Ashish Arora sold 16,366 shares on June 1 for about $70,374, reducing his ownership by 0.38%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The CEO has been actively trimming his stake recently, including a prior sale of 60,000 shares on May 20 for $237,000.
- Analysts remain cautious on Cricut, with multiple firms issuing sell or underweight ratings and MarketBeat showing an average “Strong Sell” rating with a $3.88 price target.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 16,366 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $4.30, for a total value of $70,373.80. Following the completion of the sale, the chief executive officer owned 4,325,226 shares of the company's stock, valued at approximately $18,598,471.80. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arora Ashish also recently made the following trade(s):
- On Wednesday, May 20th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $3.95, for a total value of $237,000.00.
Cricut Stock Performance
CRCT opened at $4.11 on Thursday. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $7.33. The firm has a market cap of $862.69 million, a P/E ratio of 11.74 and a beta of 0.22. The business has a 50 day moving average price of $4.18 and a 200 day moving average price of $4.47.
Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 21.37% and a net margin of 10.36%.The business had revenue of $159.47 million during the quarter, compared to analysts' expectations of $164.33 million. As a group, analysts anticipate that Cricut, Inc. will post 0.14 earnings per share for the current fiscal year.
Cricut Announces Dividend
The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a dividend of $0.10 per share. This represents a dividend yield of 474.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Cricut's payout ratio is currently 57.14%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Barclays reissued an "underweight" rating and set a $4.00 price objective on shares of Cricut in a research report on Wednesday, March 4th. The Goldman Sachs Group reissued a "sell" rating and set a $3.75 price objective 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 research report on Monday, May 11th. Finally, UBS Group reissued a "cautious" rating on shares of Cricut in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Strong Sell" and an average target price of $3.88.
Check Out Our Latest Analysis on Cricut
Hedge Funds Weigh In On Cricut
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cricut by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,729,857 shares of the company's stock valued at $29,751,000 after acquiring an additional 163,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cricut by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,417,153 shares of the company's stock valued at $7,016,000 after acquiring an additional 31,736 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Cricut by 51.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,379,155 shares of the company's stock valued at $8,675,000 after acquiring an additional 467,934 shares in the last quarter. State Street Corp raised its holdings in Cricut by 0.9% in the 4th quarter. State Street Corp now owns 1,220,292 shares of the company's stock valued at $6,040,000 after acquiring an additional 11,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cricut by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company's stock valued at $3,687,000 after acquiring an additional 229,663 shares in the last quarter. Institutional investors and hedge funds own 19.60% of the company's stock.
Cricut Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
