Key Points
- CEO Arora Ashish sold 60,000 Cricut shares at an average price of $5.48, generating $328,800. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 4.03 million shares valued at approximately $22.1 million.
- Cricut reported quarterly EPS of $0.19, exceeding the $0.06 consensus estimate, while revenue of $156.28 million fell short of the $159.95 million forecast. Shares opened at $5.43, with a 52-week range of $3.73 to $6.93.
- Analyst sentiment remains cautious: Cricut has an average “Reduce” rating and a consensus price target of $4.07, below the current share price, with four analysts rating it a Sell.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.48, for a total transaction of $328,800.00. Following the completion of the sale, the chief executive officer directly owned 4,027,105 shares in the company, valued at $22,068,535.40. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Monday, August 17th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.60, for a total transaction of $336,000.00.
- On Wednesday, August 5th, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.98, for a total transaction of $358,800.00.
- On Monday, August 3rd, Arora Ashish sold 60,000 shares of Cricut stock. The stock was sold at an average price of $4.77, for a total transaction of $286,200.00.
- On Monday, June 1st, Arora Ashish sold 16,366 shares of Cricut stock. The stock was sold at an average price of $4.30, for a total transaction of $70,373.80.
Cricut Price Performance
Shares of CRCT opened at $5.43 on Thursday. The firm has a market cap of $1.14 billion, a P/E ratio of 12.63 and a beta of 0.19. The stock has a 50 day simple moving average of $4.79 and a two-hundred day simple moving average of $4.45. Cricut, Inc. has a 1 year low of $3.73 and a 1 year high of $6.93.
Cricut (NASDAQ:CRCT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.06 by $0.13. The firm had revenue of $156.28 million for the quarter, compared to the consensus estimate of $159.95 million. Cricut had a net margin of 12.71% and a return on equity of 24.57%. On average, equities analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. The Goldman Sachs Group initiated coverage on shares of Cricut in a research report on Wednesday. They set a "sell" rating and a $4.50 price target for the company. Zacks Research upgraded Cricut from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley restated an "underweight" rating and set a $3.70 target price on shares of Cricut in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cricut has an average rating of "Reduce" and a consensus price target of $4.07.
Check Out Our Latest Research Report on CRCT
Institutional Trading of Cricut
A number of institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its stake in shares of Cricut by 1.3% in the second quarter. First Trust Advisors LP now owns 154,368 shares of the company's stock worth $1,045,000 after purchasing an additional 1,977 shares during the last quarter. Deutsche Bank AG lifted its holdings in Cricut by 6.0% in the 4th quarter. Deutsche Bank AG now owns 41,949 shares of the company's stock worth $208,000 after buying an additional 2,374 shares during the period. Osaic Holdings Inc. lifted its holdings in Cricut by 255.9% in the 2nd 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 period. Legal & General Group Plc grew its position in shares of Cricut by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 62,812 shares of the company's stock worth $395,000 after buying an additional 3,566 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Cricut by 34.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 14,630 shares of the company's stock valued at $72,000 after buying an additional 3,768 shares during the period. 19.60% of the stock is currently owned by hedge funds and other institutional investors.
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.
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