Cricut (NASDAQ:CRCT) Releases Earnings Results, Misses Estimates By $0.02 EPS

by · The Cerbat Gem

Cricut (NASDAQ:CRCT – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02), Zacks reports. The firm had revenue of $167.89 million for the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 13.18% and a net margin of 9.16%. During the same quarter in the previous year, the company posted $0.08 EPS.

Cricut Trading Down 14.6 %

Shares of NASDAQ CRCT traded down $0.96 on Wednesday, reaching $5.61. 747,722 shares of the company traded hands, compared to its average volume of 698,526. The stock has a market capitalization of $1.21 billion, a PE ratio of 18.39 and a beta of 0.13. Cricut has a fifty-two week low of $4.43 and a fifty-two week high of $8.66. The company has a 50 day moving average of $6.36 and a 200 day moving average of $6.21.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group decreased their price objective on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday.

Read Our Latest Stock Analysis on Cricut

Insider Transactions at Cricut

In related news, CEO Arora Ashish sold 53,301 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.79, for a total value of $308,612.79. Following the completion of the sale, the chief executive officer now directly owns 2,637,243 shares in the company, valued at approximately $15,269,636.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cricut news, EVP Donald B. Olsen sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.74, for a total transaction of $229,600.00. Following the completion of the sale, the executive vice president now directly owns 655,833 shares in the company, valued at $3,764,481.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arora Ashish sold 53,301 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.79, for a total value of $308,612.79. Following the completion of the transaction, the chief executive officer now owns 2,637,243 shares in the company, valued at approximately $15,269,636.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,112 shares of company stock worth $1,599,515 in the last three months. Company insiders own 18.02% of the company’s stock.

Cricut Company Profile

(Get Free Report)

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.

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