Arora Ashish Sells 54,839 Shares of Cricut, Inc. (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 54,839 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.29, for a total value of $290,098.31. Following the sale, the chief executive officer now directly owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cricut Stock Performance

NASDAQ CRCT opened at $5.16 on Friday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 18.43 and a beta of 0.13. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $8.40. The business’s fifty day moving average is $6.19 and its two-hundred day moving average is $6.15.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to the consensus estimate of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same period in the prior year, the company posted $0.08 EPS. On average, research analysts forecast that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Dividend Announcement

The business also recently declared a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 7th. This represents a dividend yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in shares of Cricut by 20.8% in the second quarter. Arizona State Retirement System now owns 12,199 shares of the company’s stock valued at $73,000 after buying an additional 2,103 shares in the last quarter. CWM LLC grew its position in Cricut by 23.9% during the 3rd quarter. CWM LLC now owns 12,026 shares of the company’s stock worth $83,000 after purchasing an additional 2,322 shares in the last quarter. Principal Financial Group Inc. grew its position in Cricut by 9.8% during the 2nd quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after purchasing an additional 3,034 shares in the last quarter. Rhumbline Advisers grew its position in Cricut by 5.8% during the 2nd quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock worth $372,000 after purchasing an additional 3,397 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cricut by 6.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,528 shares of the company’s stock worth $607,000 after purchasing an additional 5,613 shares in the last quarter. Institutional investors own 19.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group dropped their target price on Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Cricut Company Profile

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.