Key Points
- CEO Ashish Arora sold 60,000 Cricut shares at an average price of $5.79, generating $347,400. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.04%, leaving him with 5.72 million shares.
- Arora has made several similar sales recently, selling 60,000 shares in each of four additional transactions during August at prices ranging from $4.77 to $5.98.
- Cricut reported quarterly EPS of $0.19, beating estimates of $0.06, while revenue of $156.28 million fell short of expectations. Despite some positive analyst revisions, the stock carries a consensus “Reduce” rating and a $4.07 price target.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $5.79, for a total value of $347,400.00. Following the completion of the sale, the chief executive officer owned 5,717,105 shares of the company's stock, valued at approximately $33,102,037.95. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arora Ashish also recently made the following trade(s):
- On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.48, for a total transaction of $328,800.00.
- On Monday, August 17th, Ashish Arora 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, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.98, for a total transaction of $358,800.00.
- On Monday, August 3rd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.77, for a total transaction of $286,200.00.
Cricut Trading Up 1.6%
Cricut stock opened at $5.85 on Friday. The firm has a 50-day moving average price of $5.08 and a 200-day moving average price of $4.54. The firm has a market capitalization of $1.23 billion, a PE ratio of 13.60 and a beta of 0.25. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $6.93.
Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. The company 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%. As a group, sell-side analysts predict that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on CRCT. Zacks Research upgraded Cricut from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Morgan Stanley reiterated an "underweight" rating and issued a $3.70 price target on shares of Cricut in a report on Wednesday, August 5th. Weiss Ratings raised Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group initiated coverage on Cricut in a report on Wednesday, August 19th. They set a "sell" rating and a $4.50 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $4.07.
Get Our Latest Stock Report on Cricut
Institutional Investors Weigh In On Cricut
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. Jane Street Group LLC boosted its position in Cricut by 43.7% in the 1st quarter. Jane Street Group LLC now owns 20,176 shares of the company's stock valued at $104,000 after buying an additional 6,140 shares during the period. Legal & General Group Plc increased its position in shares of Cricut by 15.8% during the second quarter. Legal & General Group Plc now owns 59,246 shares of the company's stock worth $401,000 after acquiring an additional 8,095 shares during the period. Franklin Resources Inc. bought a new stake in shares of Cricut during the second quarter valued at approximately $232,000. Russell Investments Group Ltd. raised its stake in shares of Cricut by 288.7% during the second quarter. Russell Investments Group Ltd. now owns 21,017 shares of the company's stock valued at $142,000 after acquiring an additional 15,610 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cricut by 20.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 911,221 shares of the company's stock valued at $6,169,000 after purchasing an additional 157,448 shares during the period. Institutional investors own 19.60% of the company's stock.
Cricut Company Profile
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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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