Key Points
- Cricut CEO Ashish Arora sold 70,000 shares for $600,600 at an average of $8.58 under a pre-arranged Rule 10b5-1 plan. He retained about 4.7 million shares after the sale.
- The company reported quarterly earnings of $0.13 per share, topping the $0.05 analyst consensus, and revenue of $188.62 million versus estimates of $172.02 million.
- Analyst sentiment remained weak: MarketBeat reported an average “Strong Sell” rating and an average price target of $4.73, below the stock’s Friday close of $8.65.
Cricut, Inc. (NASDAQ:CRCT - Get Free Report) CEO Ashish Arora sold 70,000 shares of the business's stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $8.58, for a total transaction of $600,600.00. Following the completion of the transaction, the chief executive officer owned 4,698,740 shares in the company, valued at approximately $40,315,189.20. This trade represents a 1.47% 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, November 11th, Ashish Arora sold 70,000 shares of Cricut stock. The stock was sold at an average price of $8.95, for a total transaction of $626,500.00.
- On Friday, October 23rd, Ashish Arora sold 60,000 shares of Cricut stock. The stock was sold at an average price of $6.26, for a total transaction of $375,600.00.
- On Wednesday, October 21st, Ashish Arora sold 60,000 shares of Cricut stock. The shares were 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 value 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 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 shares were 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 shares were 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.
Cricut Stock Performance
Cricut stock traded up $0.15 on Friday, reaching $8.65. The company's stock had a trading volume of 975,590 shares, compared to its average volume of 1,383,117. The business's fifty day moving average price is $6.54 and its 200 day moving average price is $5.04. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 18.80 and a beta of 0.24. Cricut, Inc. has a twelve month low of $3.73 and a twelve month high of $9.70.
Cricut (NASDAQ:CRCT - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.08. Cricut had a return on equity of 25.88% and a net margin of 13.42%. The company had revenue of $188.62 million during the quarter, compared to analyst estimates of $172.02 million. As a group, equities analysts forecast that Cricut, Inc. will post 0.32 earnings per share for the current year.
Cricut Announces Dividend
The business also recently disclosed a dividend, which will be paid on Thursday, January 21st. Shareholders of record on Thursday, January 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 7th. This represents a yield of 228.0%. Cricut's dividend payout ratio is currently 43.48%.
Institutional Investors Weigh In On Cricut
Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Cricut by 265.0% during the first quarter. Royal Bank of Canada now owns 8,165 shares of the company's stock worth $30,000 after purchasing an additional 5,928 shares during the period. Signaturefd LLC bought a new position in shares of Cricut during the 3rd quarter valued at about $43,000. Royce & Associates LP lifted its holdings in shares of Cricut by 35.5% during the 3rd quarter. Royce & Associates LP now owns 32,650 shares of the company's stock valued at $208,000 after purchasing an additional 8,550 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Cricut by 14.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 82,920 shares of the company's stock valued at $529,000 after purchasing an additional 10,223 shares during the period. Finally, Ieq Capital LLC grew its position in shares of Cricut by 19.4% in the 3rd quarter. Ieq Capital LLC now owns 67,994 shares of the company's stock valued at $434,000 after purchasing an additional 11,039 shares during the period. Institutional investors own 19.60% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on CRCT. Weiss Ratings upgraded shares of Cricut from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, November 3rd. Barclays boosted their target price on shares of Cricut from $4.00 to $6.00 and gave the stock an "underweight" rating in a research note on Thursday, November 5th. The Goldman Sachs Group initiated coverage on shares of Cricut in a research report on Wednesday, August 19th. They set a "sell" rating and a $4.50 target price on the stock. Wall Street Zen raised shares of Cricut from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Finally, Morgan Stanley reissued an "underweight" rating and set a $3.70 price target on shares of Cricut in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Cricut has an average rating of "Strong Sell" and an average target price of $4.73.
View Our Latest Research Report on CRCT
Cricut Company Profile
(
Get Free Report)
Cricut, Inc. provides a platform of products and services for people who create personalized projects. Its offerings include connected cutting machines, heat presses, tools and materials used to make items such as cards, home décor, apparel and gifts. The company also offers Design Space, a digital design application that lets users create or customize projects and send them to compatible Cricut machines. Optional subscription services provide access to additional designs and other creative content.
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