Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish Sells 52,901 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 52,901 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.29, for a total value of $385,648.29. Following the transaction, the chief executive officer now owns 1,898,769 shares in the company, valued at approximately $13,842,026.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arora Ashish also recently made the following trade(s):

• On Friday, May 17th, Arora Ashish sold 24,134 shares of Cricut stock. The stock was sold at an average price of $6.97, for a total value of $168,213.98.
• On Monday, May 13th, Arora Ashish sold 56,581 shares of Cricut stock. The stock was sold at an average price of $7.06, for a total value of $399,461.86.
• On Friday, May 10th, Arora Ashish sold 129,186 shares of Cricut stock. The stock was sold at an average price of $7.11, for a total value of $918,512.46.

Cricut Stock Down 1.6 %

Shares of NASDAQ:CRCT traded down $0.11 during trading on Friday, hitting $6.95. 711,052 shares of the company traded hands, compared to its average volume of 931,348. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 23.97 and a beta of 0.03. The business’s fifty day moving average is $5.45 and its 200-day moving average is $6.02. Cricut, Inc. has a one year low of $4.43 and a one year high of $17.89.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $231.25 million for the quarter, compared to the consensus estimate of $252.67 million. Cricut had a net margin of 8.54% and a return on equity of 12.25%. The firm’s revenue for the quarter was down 17.6% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. On average, analysts forecast that Cricut, Inc. will post 0.24 EPS for the current year.

Cricut Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, July 19th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a dividend yield of 1.3%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays lowered their price objective on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group lowered their price objective on Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, Citigroup lowered their price objective on Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th.

Hedge Funds Weigh In On Cricut

Several hedge funds and other institutional investors have recently made changes to their positions in CRCT. Bank of New York Mellon Corp lifted its position in Cricut by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 189,053 shares of the company’s stock worth $1,756,000 after purchasing an additional 3,900 shares during the period. Strs Ohio lifted its position in Cricut by 23.4% in the third quarter. Strs Ohio now owns 32,200 shares of the company’s stock worth $299,000 after purchasing an additional 6,100 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Cricut in the third quarter worth approximately $46,000. Quantbot Technologies LP acquired a new stake in Cricut in the third quarter worth approximately $72,000. Finally, Vanguard Group Inc. lifted its position in Cricut by 4.4% in the third quarter. Vanguard Group Inc. now owns 3,200,781 shares of the company’s stock worth $29,735,000 after purchasing an additional 133,624 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.

About Cricut

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.