Cricut, Inc. CEO Arora Ashish Sells Shares of Stock

Cricut, Inc. (NASDAQ:CRCT) recently witnessed its CEO, Arora Ashish, selling 60,000 shares of the company on February 24th. The shares were sold at an average price of $5.59, culminating in a total transaction value of $335,400. After this sale, Arora Ashish retains 3,391,635 shares, which are estimated to be worth approximately $18,959,239. This transaction marks a decrease of 1.74% in his ownership stake. The details of this sale were reported in a filing with the SEC and can be accessed through their website.

In addition to the most recent sale, Arora Ashish has conducted several trades in the preceding months. For instance, on February 21st, he sold another 60,000 shares at an average price of $5.94 for a total of $356,400. Earlier in February, he sold 21,250 shares on both February 5th ($5.66 per share) and February 3rd ($5.27 per share), with total values of $120,275 and $111,987.50 respectively. In January, he made several sales of 21,250 shares at varying prices, including $5.86 on January 23rd and $5.75 on January 21st as well as $5.63 and $5.93 on January 8th and January 6th respectively. Each of these transactions highlights an ongoing pattern of stock sales by the CEO, contributing significantly to the volume of trading activity surrounding Cricut stock.

Cricut Share Performance

On Wednesday, CRCT shares opened at $5.64, with the company experiencing a year-low value of $4.43 and a year-high of $8.40. Cricut's current market capitalization stands at $1.21 billion, and it has a P/E ratio of 20.14. Despite fluctuations in share price, the fifty-day and 200-day simple moving averages are at $5.74 and $5.93, indicating the stock's recent performance trend.

Analyst Insights

In related news, analysts from Goldman Sachs have lowered their target price for Cricut shares from $6.50 to $5.75 while maintaining a "neutral" rating in their research note dated November 6th. This adjustment reflects market perceptions of Cricut’s performance and anticipated future movements for the stock.

Investor Activity

Furthermore, several institutional investors have recently altered their stakes in Cricut. For example, Versor Investments LP acquired a new position worth around $215,000 in the third quarter, while FMR LLC increased its holding by 779.4%, now owning 19,840 shares valued at approximately $137,000. Similarly, Martingale Asset Management L P has significantly increased its shares to reach 125,846, which are now worth around $872,000. Overall, institutional ownership is reported at about 19.60% of the company’s total stock.

About Cricut

Cricut, Inc. is engaged in the creativity industry, providing a platform for users to create handmade goods. The company operates through three main segments: Connected Machines, Subscriptions, and Accessories and Materials. Its offerings include connected machines, design applications, and various materials that allow individuals to make personalized items.

Cricut, Stock, Sales