Cricut, Inc. CEO Arora Ashish Sells 60,000 Shares

Cricut, Inc. (NASDAQ:CRCT) CEO Arora Ashish executed a sale of 60,000 shares of the company’s stock on February 24th. The shares were sold at an average price of $5.59, amounting to a total of $335,400. Following this transaction, Ashish's total ownership in Cricut stands at 3,391,635 shares, which is valued at approximately $18,959,239.65. This sale reflects a 1.74% reduction in his stake in the company.

The details of the transaction have been disclosed in a legal filing with the SEC, which can be accessed through the SEC’s official website.

Additionally, Arora Ashish has made several other stock transactions recently. For example, on February 21st, he sold another 60,000 shares at an average price of $5.94, totaling $356,400. Earlier, on February 5th, he sold 21,250 shares at an average price of $5.66, generating $120,275. Other transactions included sales on February 3rd (21,250 shares at $5.27), January 23rd (21,250 shares at $5.86), and five sales from January 8th to January 21st, ranging between $5.63 and $5.94 per share.

Cricut Stock Performance

The stock opened at $5.64 on Wednesday, with a twelve-month low of $4.43 and a high of $8.40. Cricut has a market capitalization of $1.21 billion, a P/E ratio of 20.14, and a beta of -0.02. Its fifty-day simple moving average is $5.74, while the 200-day average is $5.93.

Analyst Insights

In terms of market analysis, The Goldman Sachs Group has previously adjusted its target price for Cricut shares from $6.50 to $5.75, assigning a 'neutral' rating.

Institutional Investor Activity

Recent changes to positions in Cricut by institutional investors include a new position bought by Versor Investments LP in the third quarter valued at approximately $215,000. Quantbot Technologies LP also accrued a new position worth about $93,000. FMR LLC significantly increased its holdings by a staggering 779.4% during the same time frame, now owning 19,840 shares valued at $137,000 after acquiring an additional 17,584 shares. Moreover, UBS Asset Management has increased its holdings by 6.9%, now holding 87,528 shares worth $607,000. Martingale Asset Management has also expanded its stake by 258.6%, bringing its total holdings to 125,846 shares valued at $872,000. Collectively, hedge funds and institutional investors own 19.60% of Cricut's stock.

About Cricut

Cricut, Inc. specializes in the design, marketing, and distribution of a platform that supports creativity, allowing users to transform their ideas into professional-quality handmade products. The company operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials, and provides machines, design applications, and various materials for creating customized items.

Cricut, CEO, Shares