Key Points
- Cricut CEO Ashish Arora sold 60,000 shares at an average price of $6.43, generating $385,800. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 1.17%.
- Arora has made multiple similar sales in recent months, consistently selling 60,000 shares per transaction. He still owned 5,088,740 shares following the latest sale.
- Cricut shares opened at $6.47, near their 52-week high of $6.66, while analysts maintained a broadly negative outlook: the consensus rating was “Reduce” with a $4.07 price target.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the company's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $6.43, for a total value of $385,800.00. Following the completion of the transaction, the chief executive officer owned 5,088,740 shares of the company's stock, valued at $32,720,598.20. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The shares were sold at an average price of $6.50, for a total value of $390,000.00.
- On Thursday, September 17th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.68, for a total value of $340,800.00.
- On Tuesday, September 15th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $5.62, for a total value of $337,200.00.
- 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 transaction of $336,600.00.
- 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 value 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 stock was sold at an average price of $4.77, for a total value of $286,200.00.
Cricut Trading Down 0.8%
CRCT stock opened at $6.47 on Tuesday. The firm's 50-day moving average is $5.70 and its two-hundred day moving average is $4.78. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 15.05 and a beta of 0.25. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.66.
Cricut (NASDAQ:CRCT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.13. Cricut had a net margin of 12.71% and a return on equity of 24.57%. The company had revenue of $156.28 million for the quarter, compared to analysts' expectations of $159.95 million. On average, equities research analysts predict that Cricut, Inc. will post 0.32 earnings per share for the current year.
Institutional Trading of Cricut
A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Cricut by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 985,868 shares of the company's stock worth $3,687,000 after acquiring an additional 229,663 shares during the period. Renaissance Technologies LLC boosted its holdings in Cricut by 2.7% in the first quarter. Renaissance Technologies LLC now owns 879,143 shares of the company's stock valued at $3,288,000 after acquiring an additional 23,300 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Cricut by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 557,359 shares of the company's stock valued at $2,085,000 after acquiring an additional 25,642 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Cricut by 18.1% in the 1st quarter. Empowered Funds LLC now owns 420,595 shares of the company's stock valued at $1,573,000 after acquiring an additional 64,362 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Cricut by 124.4% in the first quarter. Bank of America Corp DE now owns 116,790 shares of the company's stock worth $437,000 after acquiring an additional 64,737 shares in the last quarter. Institutional investors own 19.60% of the company's stock.
Wall Street Analysts Forecast Growth
CRCT has been the topic of several analyst reports. Zacks Research raised shares of Cricut from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group initiated coverage on Cricut in a report on Wednesday, August 19th. They issued a "sell" rating and a $4.50 target price for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $3.70 price objective on shares of Cricut in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Cricut from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $4.07.
Read Our Latest Stock Analysis on CRCT
Cricut Company Profile
(
Get Free Report)
Cricut, Inc develops and sells digital crafting technology that enables users to design, make and personalize projects. Its ecosystem includes connected cutting, heat-press, engraving and other crafting machines, along with the company's Design Space software, which allows users to create projects, prepare designs and operate compatible devices.
The company also offers a broad selection of consumable materials and accessories, including vinyl, iron-on materials, paper, specialty fabrics, cutting tools, replacement components and related crafting supplies.
Further Reading
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