Ashish Arora, the Chief Executive Officer of Cricut, Inc. (NASDAQ:CRCT), a leader in the creative technology industry, has recently sold a significant number of shares in the company. According to the latest filings, Arora sold shares totaling over $1.9 million.
The transactions took place over three separate days, with the prices of shares ranging from $7.0644 to $7.4812. On May 10, 2024, Arora sold 129,186 shares at a weighted average price of $7.107, with prices in the range of $6.90 to $7.72. Following this sale, Arora's holdings decreased to 2,090,420 shares.
A few days later, on May 13, an additional 56,581 shares were sold at an average price of $7.0644, with individual sales prices varying from $6.87 to $7.21. This sale further reduced Arora's stake in the company to 2,033,839 shares.
The final sale reported occurred on May 14, where Arora parted with 82,169 shares at an average price of $7.4812, with the range of transaction prices being between $7.25 and $7.58. After this transaction, the CEO was left with 1,951,670 shares of Cricut, Inc.
The total value of the shares sold by Arora in these transactions amounted to approximately $1,932,558, reflecting a substantial transaction by the company's CEO. The sales were conducted directly, as indicated in the filings, and provide a clear view of the CEO's recent trading activity in the company's stock.
Investors often monitor insider transactions such as these for insights into executive perspectives on the company's value. Cricut, Inc. continues to be a key player in the special industry machinery sector, and movements in executive holdings are noteworthy events for stakeholders and market watchers alike.
InvestingPro Insights
Following the recent insider transactions by Cricut, Inc. (NASDAQ:CRCT) CEO Ashish Arora, investors may find additional context in the company's financial health and market performance. Cricut's current Market Cap stands at approximately $1.62 billion, and while the company's Revenue Growth has seen a decline of 8.68% over the last twelve months as of Q1 2024, its EBITDA Growth during the same period has increased by a notable 37.47%. The company also boasts a Gross Profit Margin of 47.68%, underscoring its ability to retain a significant portion of revenue after accounting for the cost of goods sold.
An InvestingPro Tip of interest is that Cricut holds more cash than debt on its balance sheet, which could be a reassuring sign for investors concerned about the company's financial stability. Additionally, the stock has experienced a significant return over the last week, with a 35.26% price total return, which is quite impressive and may influence investor sentiment.
It's worth noting that while three analysts have recently revised their earnings estimates downwards for the upcoming period, the company is still expected to be profitable this year. Moreover, Cricut is trading at a low P/E ratio of 25.3 relative to near-term earnings growth, which may suggest that the stock is undervalued.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available on the platform. These tips provide further insights into Cricut's stock performance and financial metrics. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to these valuable tips.
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