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

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish sold 60,000 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $4.42, for a total transaction of $265,200.00. Following the completion of the sale, the chief executive officer directly owned 3,798,453 shares in the company, valued at approximately $16,789,162.26. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, February 19th, Arora Ashish sold 60,000 shares of Cricut stock. The shares were sold at an average price of $4.65, for a total transaction of $279,000.00.
• 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 shares were sold at an average price of $5.12, for a total value 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 value of $106,039.97.
• On Monday, December 8th, Arora Ashish sold 21,294 shares of Cricut stock. The stock was sold at an average price of $4.97, for a total value of $105,831.18.
• On Wednesday, November 26th, Arora Ashish sold 20,372 shares of Cricut stock. The shares were 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 Price Performance

Shares of CRCT opened at $4.33 on Wednesday. The firm has a market capitalization of $916.86 million, a price-to-earnings ratio of 11.40 and a beta of 0.17. Cricut, Inc. has a 1-year low of $3.94 and a 1-year high of $7.33. The company has a 50-day moving average of $4.68 and a 200 day moving average of $5.22.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRCT shares. The Goldman Sachs Group lowered their price target on Cricut from $3.50 to $3.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. Weiss Ratings cut Cricut from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen downgraded Cricut from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. Four investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $3.60.

Institutional Trading of Cricut

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its holdings in shares of Cricut by 255.9% in the 2nd 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 purchased a new stake in shares of Cricut during the 4th quarter worth $55,000. Orion Porfolio Solutions LLC bought a new stake in Cricut during the fourth quarter valued at about $63,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cricut in the third quarter valued at about $68,000. Finally, Olympiad Research LP purchased a new position in Cricut in the third quarter valued at about $74,000. Institutional investors own 19.60% of the company’s stock.

Cricut Company Profile

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.