Shares of Cricut, Inc. (NASDAQ:CRCT - Get Free Report) dropped 3.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $5.69 and last traded at $5.74. Approximately 361,297 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 824,216 shares. The stock had previously closed at $5.97.
Specifically, CEO Arora Ashish sold 38,495 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $5.94, for a total value of $228,660.30. Following the transaction, the chief executive officer now owns 2,505,840 shares in the company, valued at $14,884,689.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arora Ashish sold 57,493 shares of Cricut stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $5.86, for a total value of $336,908.98. Following the sale, the chief executive officer now owns 2,539,450 shares in the company, valued at $14,881,177. The disclosure for this sale can be found here. In related news, CEO Arora Ashish sold 53,301 shares of Cricut stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.79, for a total transaction of $308,612.79. Following the sale, the chief executive officer now directly owns 2,637,243 shares in the company, valued at $15,269,636.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cricut Price Performance
The stock has a market capitalization of $1.24 billion, a P/E ratio of 19.79 and a beta of 0.11. The company has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $5.70.
Cricut (NASDAQ:CRCT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. Cricut had a return on equity of 12.25% and a net margin of 8.54%. The business had revenue of $167.95 million during the quarter, compared to analysts' expectations of $175.68 million. During the same period in the previous year, the business earned $0.07 earnings per share. As a group, equities analysts forecast that Cricut, Inc. will post 0.24 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cricut
Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its stake in shares of Cricut by 150.8% in the 2nd quarter. CWM LLC now owns 9,704 shares of the company's stock valued at $58,000 after acquiring an additional 5,835 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Cricut by 9,096.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,795 shares of the company's stock worth $65,000 after acquiring an additional 13,645 shares during the period. Arizona State Retirement System grew its holdings in shares of Cricut by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 12,199 shares of the company's stock worth $73,000 after acquiring an additional 2,103 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Cricut during the 1st quarter worth approximately $78,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Cricut in the 1st quarter worth approximately $78,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.
About Cricut
(
Get Free Report)
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.
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