Cricut (NASDAQ:CRCT) Stock Price Down 3.9% on Insider Selling

Cricut, Inc. (NASDAQ:CRCT) was down 3.9% during mid-day trading on Monday following insider selling activity. The company traded as low as $5.69 and last traded at $5.74. Approximately 361,297 shares changed hands during 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 business’s stock in a transaction dated 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 approximately $14,884,689.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arora Ashish sold 57,493 shares of the stock in a transaction that occurred 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 directly owns 2,539,450 shares of the company’s stock, valued at $14,881,177. The disclosure for this sale can be found here. In other Cricut news, CEO Arora Ashish sold 53,301 shares of Cricut stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.79, for a total value of $308,612.79. Following the transaction, the chief executive officer now directly owns 2,637,243 shares in the company, valued at approximately $15,269,636.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cricut Price Performance

The company has a 50 day moving average price of $6.05 and a 200 day moving average price of $5.70. The firm has a market cap of $1.24 billion, a PE ratio of 19.79 and a beta of 0.11.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. Cricut had a net margin of 8.54% and a return on equity of 12.25%. The company had revenue of $167.95 million during the quarter, compared to the consensus estimate of $175.68 million. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, equities analysts anticipate that Cricut, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in 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 purchasing an additional 2,103 shares during the period. Principal Financial Group Inc. grew its holdings in Cricut by 9.8% during the second quarter. Principal Financial Group Inc. now owns 33,899 shares of the company’s stock worth $203,000 after acquiring an additional 3,034 shares during the period. Rhumbline Advisers raised its position in Cricut by 5.8% in the second quarter. Rhumbline Advisers now owns 62,092 shares of the company’s stock worth $372,000 after acquiring an additional 3,397 shares in the last quarter. Swiss National Bank lifted its holdings in Cricut by 6.8% in the first quarter. Swiss National Bank now owns 72,500 shares of the company’s stock valued at $345,000 after acquiring an additional 4,600 shares during the period. Finally, CWM LLC boosted its position in shares of Cricut by 150.8% during the 2nd quarter. CWM LLC now owns 9,704 shares of the company’s stock worth $58,000 after purchasing an additional 5,835 shares in 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.