Key Points
- CEO Ashish Arora sold 60,000 Cricut shares at an average price of $5.62, generating $337,200. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his direct stake by 1.07% to 5.54 million shares.
- Cricut shares opened at $5.71 and were up 2.1%, with a market capitalization of approximately $1.20 billion. The company recently reported quarterly EPS of $0.19, beating the $0.06 consensus estimate, while revenue of $156.28 million fell short of expectations.
- Analyst sentiment remains cautious: Cricut has a consensus rating of “Reduce” and an average price target of $4.07, despite one strong-buy upgrade. Institutional investors and hedge funds own 19.6% of the company.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $5.62, for a total transaction of $337,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,537,105 shares of the company's stock, valued at $31,118,530.10. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a 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 Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $5.68, for a total value of $340,800.00.
- On Friday, September 4th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.61, for a total value of $336,600.00.
- On Wednesday, September 2nd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.79, for a total value 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 value 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 value 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 value 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 value of $286,200.00.
Cricut Stock Up 2.1%
Shares of Cricut stock opened at $5.71 on Friday. Cricut, Inc. has a 12-month low of $3.73 and a 12-month high of $6.93. The stock has a market capitalization of $1.20 billion, a P/E ratio of 13.28 and a beta of 0.25. The company has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $4.61.
Cricut (NASDAQ:CRCT - Get Free Report) last announced its 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 business had revenue of $156.28 million for the quarter, compared to the consensus estimate of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. On average, equities analysts anticipate that Cricut, Inc. will post 0.32 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Weiss Ratings raised shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Morgan Stanley reissued an "underweight" rating and issued a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. The Goldman Sachs Group began coverage on Cricut in a research note on Wednesday, August 19th. They set a "sell" rating and a $4.50 price objective for the company. Finally, Zacks Research upgraded Cricut from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $4.07.
Check Out Our Latest Research Report on CRCT
Hedge Funds Weigh In On Cricut
Several institutional investors and hedge funds have recently made changes to their positions in CRCT. Caitong International Asset Management Co. Ltd boosted its holdings in Cricut by 57,811.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,212 shares of the company's stock valued at $26,000 after purchasing an additional 5,203 shares during the period. Royal Bank of Canada lifted its stake in shares of Cricut by 265.0% in the 1st quarter. Royal Bank of Canada now owns 8,165 shares of the company's stock valued at $30,000 after acquiring an additional 5,928 shares during the last quarter. E6 Portfolios LLC acquired a new position in Cricut in the 4th quarter worth about $75,000. AXQ Capital LP acquired a new position in shares of Cricut in the second quarter valued at approximately $74,000. Finally, Diversified Trust Co acquired a new stake in Cricut during the 1st quarter worth approximately $67,000. Institutional investors and hedge funds own 19.60% of the company's stock.
About Cricut
(
Get Free Report)
Cricut, Inc develops creative technology products that enable consumers to design and make personalized projects. Its ecosystem combines connected cutting, writing, scoring, and heat-transfer machines with digital design tools, project content, and a broad range of craft materials and accessories.
The company's product portfolio includes Cricut smart cutting machines, such as the Explore, Maker, and Joy families, as well as heat-press equipment and related tools. These products are used for applications including apparel decoration, paper crafts, home décor, personalized gifts, signage, and other do-it-yourself projects.
Cricut also operates a digital platform that provides design software, ready-to-make projects, fonts, images, and subscription-based content.
Further Reading
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