Cricut (NASDAQ:CRCT) Trading Down 7.4% - Should You Sell?

Cricut, Inc. (NASDAQ:CRCT - Get Free Report) shares fell 7.4% on Monday . The company traded as low as $5.53 and last traded at $5.55. 77,862 shares traded hands during trading, a decline of 70% from the average session volume of 258,622 shares. The stock had previously closed at $5.99.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group dropped their price target on shares of Cricut from $6.50 to $5.75 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th.

Cricut Stock Performance

The firm has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $5.92. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 19.70 and a beta of -0.02.

Insiders Place Their Bets

In other Cricut news, CEO Arora Ashish sold 21,250 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $6.00, for a total value of $127,500.00. Following the sale, the chief executive officer now owns 3,844,590 shares of the company's stock, valued at approximately $23,067,540. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 373,210 shares of company stock worth $2,168,982 in the last 90 days. Company insiders own 18.02% of the company's stock.

Institutional Trading of Cricut

A number of institutional investors and hedge funds have recently bought and sold shares of CRCT. Tenzing Global Management LLC boosted 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 last quarter. American Century Companies Inc. boosted its stake in shares of Cricut by 25.8% in the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock valued at $6,783,000 after purchasing an additional 244,058 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cricut by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company's stock worth $6,246,000 after buying an additional 14,191 shares during the period. State Street Corp raised its stake in Cricut by 3.2% during the third quarter. State Street Corp now owns 1,019,025 shares of the company's stock worth $7,062,000 after buying an additional 31,584 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Cricut by 9.9% in the fourth quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after buying an additional 55,011 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.

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.