Cricut, Inc. (NASDAQ:CRCT) executive vice president, general counsel, and secretary Donald B. Olsen recently sold a significant portion of his holdings in the company. On May 10, Olsen parted with 25,000 shares of Class A Common Stock at a weighted average price of $7.046 per share, totaling over $176,000.
The transaction took place in multiple trades with prices ranging from $6.920 to $7.175 per share. Following the sale, Olsen's remaining stake in the company stands at 573,918 shares of Class A Common Stock. The details of the sale, including the range of prices at which the shares were sold, have been made available upon request, as stated in the footnotes of the filing.
The sale by a key executive is often watched closely by investors for insights into the company's performance and potential future direction. Cricut, Inc., known for its smart cutting machines and related products for home crafters, is based in South Jordan, Utah, and operates within the specialty industrial machinery sector.
This latest transaction has been duly reported in accordance with SEC regulations and is now part of the public record for investors to consider as they monitor the movements of Cricut's executive team.
InvestingPro Insights
As investors digest the news of executive vice president Donald B. Olsen's recent stock sale in Cricut, Inc. (NASDAQ:CRCT), it's vital to consider the company's financial health and market performance. According to real-time data from InvestingPro, Cricut boasts a market capitalization of $1.55 billion. The company's P/E ratio stands at 24.12, which adjusts to a slightly lower 21.61 when considering the last twelve months as of Q1 2024. This could suggest a reasonable valuation relative to its earnings.
Despite a decrease in revenue growth by -8.68% over the last twelve months as of Q1 2024, Cricut has demonstrated strong returns with a 29.42% increase over the last week and an impressive 39.77% over the last month. This performance is particularly noteworthy given the company's high price volatility, an InvestingPro Tip that investors should be aware of.
Another InvestingPro Tip highlights that Cricut is trading at a low PEG ratio of 0.63, indicating that its stock price may be undervalued relative to its near-term earnings growth potential. For those considering a deeper dive into Cricut's financials and stock performance, InvestingPro offers additional insights. There are 12 more InvestingPro Tips available, which can be accessed through the company-specific link: https://www.investing.com/pro/CRCT. Investors interested in these comprehensive analytics can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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