Key Points
- Cricut CEO Ashish Arora sold 60,000 shares at an average price of $6.26, generating $375,600. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 4.91 million shares.
- Arora has made a series of similar 60,000-share sales since August, indicating continued insider selling as Cricut’s stock traded near its 52-week high of $6.82.
- Analyst sentiment remains negative: Cricut has an average “Strong Sell” rating and a $4.07 price target, despite the company beating quarterly EPS expectations with $0.19 versus a $0.06 consensus estimate.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 60,000 shares of the business's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $6.26, for a total transaction of $375,600.00. Following the completion of the transaction, the chief executive officer owned 4,908,740 shares in the company, valued at approximately $30,728,712.40. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arora Ashish also recently made the following trade(s):
- On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.31, for a total transaction of $378,600.00.
- On Monday, October 5th, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.43, for a total transaction of $385,800.00.
- On Thursday, October 1st, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.50, for a total transaction of $390,000.00.
- 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 transaction 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 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.
Cricut Stock Performance
Cricut stock opened at $6.25 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of 14.54 and a beta of 0.25. The business's fifty day moving average is $5.98 and its two-hundred day moving average is $5.02. Cricut, Inc. has a 52 week low of $3.73 and a 52 week high of $6.82.
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 company had revenue of $156.28 million for the quarter, compared to analysts' expectations of $159.95 million. Cricut had a return on equity of 24.57% and a net margin of 12.71%. On average, equities research analysts predict that Cricut, Inc. will post 0.32 earnings per share for the current year.
Institutional Trading of Cricut
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCT. Signaturefd LLC acquired a new position in Cricut during the 3rd quarter valued at about $43,000. Nisa Investment Advisors LLC boosted its stake in shares of Cricut by 145.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 30,739 shares of the company's stock valued at $196,000 after purchasing an additional 18,207 shares during the last quarter. AXQ Capital LP bought a new position in shares of Cricut in the 2nd quarter valued at about $74,000. Public Employees Retirement System of Ohio bought a new position in shares of Cricut in the 2nd quarter valued at about $355,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Cricut during the 2nd quarter worth approximately $2,409,000. 19.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CRCT has been the topic of a number of research reports. Zacks Research lowered shares of Cricut from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Morgan Stanley reissued an "underweight" rating and issued a $3.70 price target on shares of Cricut in a report on Wednesday, August 5th. The Goldman Sachs Group began coverage on shares of Cricut in a research report on Wednesday, August 19th. They issued a "sell" rating and a $4.50 price objective for the company. Finally, Weiss Ratings raised Cricut from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Sell" and an average price target of $4.07.
Read Our Latest Research Report on Cricut
About Cricut
(
Get Free Report)
Cricut, Inc develops and sells connected cutting machines and related products for do-it-yourself crafting, personalization and small-scale creative production. Its systems are designed to cut, draw, score and apply materials such as paper, vinyl, fabric, leather and iron-on transfers, enabling users to create customized home décor, apparel, gifts and other projects.
The company's product portfolio includes Cricut smart cutting machines, heat presses, specialized tools and a broad range of consumable materials.
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