Arora Ashish Sells 60,000 Shares of Cricut (NASDAQ:CRCT) Stock

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $4.65, for a total value of $279,000.00. Following the completion of the sale, the chief executive officer directly owned 3,918,453 shares in the company, valued at approximately $18,220,806.45. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 23rd, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.42, for a total value of $265,200.00.
• On Wednesday, January 7th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.93, for a total value of $102,706.69.
• On Monday, January 5th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total value of $103,540.01.
• On Wednesday, December 24th, Arora Ashish sold 20,833 shares of Cricut stock. The shares were sold at an average price of $4.94, for a total value of $102,915.02.
• On Monday, December 22nd, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $5.12, for a total transaction of $106,664.96.
• On Tuesday, December 9th, Arora Ashish sold 20,833 shares of Cricut stock. The stock was sold at an average price of $5.09, for a total transaction of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The shares were sold at an average price of $4.97, for a total transaction of $105,831.18.
• On Wednesday, November 26th, Arora Ashish sold 20,372 shares of Cricut stock. The stock was sold at an average price of $4.79, for a total transaction of $97,581.88.
• On Tuesday, November 25th, Arora Ashish sold 33,561 shares of Cricut stock. The stock was sold at an average price of $4.82, for a total transaction of $161,764.02.

Cricut Stock Performance

Shares of CRCT opened at $4.33 on Wednesday. The company has a 50-day simple moving average of $4.68 and a 200-day simple moving average of $5.22. Cricut, Inc. has a 52 week low of $3.94 and a 52 week high of $7.33. The firm has a market capitalization of $916.86 million, a P/E ratio of 11.40 and a beta of 0.17.

Analyst Upgrades and Downgrades

CRCT has been the topic of several recent research reports. Weiss Ratings lowered Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 27th. The Goldman Sachs Group decreased their price target on shares of Cricut from $3.50 to $3.00 and set a “sell” rating on the stock in a research note on Wednesday, January 14th. Finally, Wall Street Zen cut shares of Cricut from a “buy” rating to a “hold” rating in a research note on Saturday, November 29th. Four analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Cricut currently has a consensus rating of “Strong Sell” and an average target price of $3.60.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its holdings in shares of Cricut by 255.9% during the second quarter. Osaic Holdings Inc. now owns 3,644 shares of the company’s stock valued at $25,000 after acquiring an additional 2,620 shares during the period. Guggenheim Capital LLC acquired a new stake in shares of Cricut during the 4th quarter worth about $55,000. Orion Porfolio Solutions LLC bought a new position in Cricut during the 4th quarter valued at about $63,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cricut during the 3rd quarter valued at about $68,000. Finally, Olympiad Research LP acquired a new position in Cricut in the third quarter valued at about $74,000. 19.60% of the stock is currently owned by institutional investors and hedge funds.

About Cricut

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.