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 on Monday, November 25th. The shares were sold at an average price of $5.29, for a total value of $290,098.31. Following the completion of the sale, the chief executive officer now owns 3,980,294 shares of the company’s stock, valued at $21,055,755.26. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cricut Price Performance

Shares of NASDAQ:CRCT opened at $5.16 on Thursday. Cricut, Inc. has a 1 year low of $4.43 and a 1 year high of $8.40. The company’s 50 day simple moving average is $6.22 and its 200 day simple moving average is $6.15. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.43 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last announced 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 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 period last year, the firm posted $0.08 earnings per share. As a group, analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current fiscal year.

Cricut Announces Dividend

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

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut their price objective on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Institutional Trading of Cricut

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Cricut by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 3,658,790 shares of the company’s stock worth $17,416,000 after buying an additional 360,080 shares during the period. Tenzing Global Management LLC raised its stake in shares of Cricut by 4.9% during the third quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after acquiring an additional 100,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cricut by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after purchasing an additional 9,940 shares during the period. State Street Corp grew its stake in shares of Cricut by 3.2% in the third quarter. State Street Corp now owns 1,019,025 shares of the company’s stock worth $7,062,000 after purchasing an additional 31,584 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Cricut by 3.1% in the second quarter. AQR Capital Management LLC now owns 765,474 shares of the company’s stock valued at $4,585,000 after purchasing an additional 23,345 shares during the period. 19.60% of the stock is currently owned by institutional investors.

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.