Cricut (NASDAQ:CRCT) Posts Earnings Results

Cricut (NASDAQ:CRCT) released its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02, Zacks reports. Cricut had a return on equity of 12.36% and a net margin of 8.47%.

Cricut Stock Down 4.0 %

Shares of NASDAQ:CRCT traded down $0.22 during trading on Tuesday, hitting $5.22. 607,846 shares of the company traded hands, compared to its average volume of 283,410. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.64 and a beta of -0.02. The business’s fifty day moving average is $5.70 and its 200-day moving average is $5.91. Cricut has a one year low of $4.43 and a one year high of $8.40.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered 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.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of Cricut stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.87, for a total value of $352,200.00. Following the transaction, the chief executive officer now directly owns 3,897,038 shares of the company’s stock, valued at $22,875,613.06. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 373,210 shares of company stock valued at $2,168,982 in the last quarter. Corporate insiders own 18.02% of the company’s stock.

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.