Cricut (NASDAQ:CRCT) Shares Down 7.5% – Time to Sell?

Shares of Cricut, Inc. (NASDAQ:CRCT) dropped 7.5% on Tuesday . The company traded as low as $6.39 and last traded at $6.41. Approximately 211,037 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 754,929 shares. The stock had previously closed at $6.93.

Cricut Stock Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 21.28 and a beta of 0.10. The company has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $5.93.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The business had revenue of $167.95 million for the quarter, compared to the consensus estimate of $175.68 million. Cricut had a net margin of 9.16% and a return on equity of 13.18%. During the same period in the previous year, the company earned $0.07 earnings per share. As a group, sell-side analysts predict that Cricut, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Arora Ashish sold 77,823 shares of Cricut stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $6.37, for a total transaction of $495,732.51. Following the completion of the transaction, the chief executive officer now owns 2,690,544 shares in the company, valued at $17,138,765.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the transaction, the executive vice president now directly owns 655,833 shares in the company, valued at $3,764,481.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 77,823 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $6.37, for a total transaction of $495,732.51. Following the sale, the chief executive officer now owns 2,690,544 shares of the company’s stock, valued at approximately $17,138,765.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,112 shares of company stock valued at $1,599,515. 18.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of Cricut during the first quarter worth approximately $147,000. GSA Capital Partners LLP boosted its stake in Cricut by 584.2% in the 1st quarter. GSA Capital Partners LLP now owns 423,849 shares of the company’s stock valued at $2,018,000 after purchasing an additional 361,904 shares during the period. Quantbot Technologies LP grew its holdings in Cricut by 130.9% in the 1st quarter. Quantbot Technologies LP now owns 52,724 shares of the company’s stock valued at $251,000 after buying an additional 29,891 shares in the last quarter. Swiss National Bank grew its holdings in Cricut by 6.8% in the 1st quarter. Swiss National Bank now owns 72,500 shares of the company’s stock valued at $345,000 after buying an additional 4,600 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cricut during the 1st quarter worth $758,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

Cricut Company Profile

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.