Insider Selling: Cricut, Inc. (NASDAQ:CRCT) CEO Sells 54,839 Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 54,839 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $5.29, for a total transaction of $290,098.31. Following the completion of the transaction, the chief executive officer now directly owns 3,980,294 shares of the company’s stock, valued at approximately $21,055,755.26. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cricut Trading Down 0.2 %

Cricut stock traded down $0.01 on Wednesday, hitting $5.16. 304,749 shares of the stock traded hands, compared to its average volume of 681,309. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $8.40. The business’s fifty day simple moving average is $6.22 and its 200 day simple moving average is $6.15. The firm has a market cap of $1.11 billion, a P/E ratio of 18.43 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last announced its 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 business had revenue of $167.89 million for 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 quarter last year, the firm posted $0.08 earnings per share. As a group, analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut 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.

Hedge Funds Weigh In On Cricut

A number of large investors have recently bought and sold shares of the business. CWM LLC grew its position in shares of Cricut by 150.8% in the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after buying an additional 5,835 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company’s stock valued at $65,000 after purchasing an additional 13,645 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Cricut during the 3rd quarter valued at about $70,000. Arizona State Retirement System grew its position 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 purchasing an additional 2,103 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Cricut in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

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.