Key Points
- CEO Ashish Arora sold 60,000 Cricut shares at an average price of $5.61, generating $336,600. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 5.6 million shares.
- The sale follows several similar transactions, with Arora selling 60,000 shares in each of five additional trades since early August, signaling a recurring pattern of insider selling.
- Cricut shares opened at $5.45, while analysts maintained a generally cautious outlook: the consensus rating was “Reduce” with a $4.07 price target, despite the company exceeding quarterly EPS expectations.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the firm's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $5.61, for a total value of $336,600.00. Following the sale, the chief executive officer directly owned 5,597,105 shares of the company's stock, valued at $31,399,759.05. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.79, for a total transaction of $347,400.00.
- On Wednesday, August 19th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were 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 stock was 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 stock was 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 Stock Down 1.6%
Cricut stock opened at $5.45 on Wednesday. The company's 50-day moving average price is $5.14 and its two-hundred day moving average price is $4.56. The stock has a market cap of $1.14 billion, a P/E ratio of 12.67 and a beta of 0.25. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $6.93.
Cricut (NASDAQ:CRCT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. Cricut had a return on equity of 24.57% and a net margin of 12.71%.The company had revenue of $156.28 million during the quarter, compared to analysts' expectations of $159.95 million. Equities analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current fiscal year.
Institutional Trading of Cricut
A number of institutional investors and hedge funds have recently made changes to their positions in CRCT. First Trust Advisors LP boosted its position in shares of Cricut by 1.3% during the 2nd quarter. First Trust Advisors LP now owns 154,368 shares of the company's stock worth $1,045,000 after acquiring an additional 1,977 shares in the last quarter. Deutsche Bank AG lifted its stake in Cricut by 6.0% during the fourth quarter. Deutsche Bank AG now owns 41,949 shares of the company's stock worth $208,000 after purchasing an additional 2,374 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company's stock worth $25,000 after purchasing an additional 2,620 shares during the last quarter. Legal & General Group Plc boosted its holdings 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 valued at $395,000 after purchasing an additional 3,566 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Cricut by 34.6% in the 4th quarter. Corient Private Wealth LLC now owns 16,917 shares of the company's stock valued at $84,000 after purchasing an additional 4,349 shares in the last quarter. Institutional investors own 19.60% of the company's stock.
Analyst Upgrades and Downgrades
CRCT has been the topic of several recent research reports. Morgan Stanley reiterated an "underweight" rating and set a $3.70 price objective on shares of Cricut in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Cricut from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Cricut in a research note on Wednesday, August 19th. They issued a "sell" rating and a $4.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $4.07.
Check Out Our Latest Research Report 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.
Recommended Stories
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].
