Cricut (NASDAQ:CRCT) Trading Down 3% on Insider Selling

Cricut, Inc. (NASDAQ:CRCT) shares dropped 3% on Friday after an insider sold shares in the company. The company traded as low as $5.87 and last traded at $5.87. 111,866 shares traded hands during trading, a decline of 83% from the average daily volume of 661,403 shares. The stock had previously closed at $6.05.

Specifically, CEO Arora Ashish sold 21,250 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $5.94, for a total value of $126,225.00. Following the completion of the transaction, the chief executive officer now owns 3,780,840 shares in the company, valued at $22,458,189.60. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $6.31, for a total value of $134,087.50. Following the completion of the transaction, the chief executive officer now directly owns 3,823,340 shares in the company, valued at $24,125,275.40. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Cricut Price Performance

The company has a market cap of $1.27 billion, a PE ratio of 21.18 and a beta of 0.03. The stock has a fifty day moving average price of $5.94 and a 200-day moving average price of $6.06.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $167.89 million during the quarter, compared to analysts’ expectations of $165.35 million. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The business also recently declared a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.50 per share. This represents a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio is currently 71.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Cricut by 42.7% in the 2nd quarter. American Century Companies Inc. now owns 453,014 shares of the company’s stock worth $2,714,000 after buying an additional 135,539 shares in the last quarter. Tenzing Global Management LLC increased its stake in shares of Cricut by 4.9% in the third quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock worth $14,900,000 after acquiring an additional 100,000 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Cricut during the second quarter worth $558,000. Martingale Asset Management L P boosted its position in Cricut by 258.6% during the third quarter. Martingale Asset Management L P now owns 125,846 shares of the company’s stock valued at $872,000 after purchasing an additional 90,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cricut by 217.5% in the second quarter. Dimensional Fund Advisors LP now owns 92,139 shares of the company’s stock valued at $552,000 after purchasing an additional 63,116 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.