Cricut (NASDAQ:CRCT) Posts Earnings Results, Misses Estimates By $0.02 EPS

Cricut (NASDAQ:CRCT) announced its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02), Zacks reports. The company had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 9.16% and a return on equity of 13.18%. During the same quarter last year, the business earned $0.08 EPS.

Cricut Stock Down 13.5 %

Shares of CRCT traded down $0.89 during mid-day trading on Wednesday, reaching $5.68. 731,289 shares of the company’s stock were exchanged, compared to its average volume of 698,449. Cricut has a 52-week low of $4.43 and a 52-week high of $8.66. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 18.39 and a beta of 0.13. The company has a 50-day simple moving average of $6.36 and a two-hundred day simple moving average of $6.21.

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the transaction, the executive vice president now owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cricut news, CEO Arora Ashish sold 38,495 shares of Cricut stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $5.94, for a total value of $228,660.30. Following the completion of the sale, the chief executive officer now directly owns 2,505,840 shares of the company’s stock, valued at approximately $14,884,689.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.74, for a total value of $229,600.00. Following the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at approximately $3,764,481.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,112 shares of company stock valued at $1,599,515. 18.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday.

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.