Cricut (NASDAQ:CRCT) Trading Down 3% on Insider Selling

Shares of Cricut, Inc. (NASDAQ:CRCT) dropped 3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $5.87 and last traded at $5.87. Approximately 111,866 shares traded hands during trading, a decline of 83% from the average daily volume of 661,403 shares. The stock had previously closed at $6.05.

Specifically, CEO Arora Ashish sold 21,250 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $5.94, for a total value of $126,225.00. Following the completion of the transaction, the chief executive officer now owns 3,780,840 shares of the company’s stock, valued at approximately $22,458,189.60. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arora Ashish sold 21,250 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $6.31, for a total value of $134,087.50. Following the completion of the sale, the chief executive officer now owns 3,823,340 shares in the company, valued at approximately $24,125,275.40. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut their price target 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.

Cricut Stock Down 2.0 %

The company’s 50-day moving average is $5.94 and its 200-day moving average is $6.06. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 21.18 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $167.89 million for the quarter, compared to analyst estimates of $165.35 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. During the same quarter last year, the company earned $0.08 earnings per share. Sell-side analysts anticipate that Cricut, Inc. will post 0.28 EPS for the current year.

Cricut Dividend Announcement

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

Institutional Investors Weigh In On Cricut

Large investors have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Cricut by 42.7% in the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock valued at $2,714,000 after buying an additional 135,539 shares in the last quarter. Tenzing Global Management LLC lifted its holdings in Cricut by 4.9% in 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 period. Algert Global LLC acquired a new position in Cricut during the second quarter worth about $558,000. Martingale Asset Management L P raised its holdings in Cricut by 258.6% during the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock worth $872,000 after purchasing an additional 90,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cricut by 217.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,139 shares of the company’s stock valued at $552,000 after acquiring an additional 63,116 shares during the last quarter. 19.60% of the stock is owned by hedge funds and other 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.