Beamr video compression achieves up to 50% improvement for AVs
Cricut , Inc. (NASDAQ:CRCT) CEO Ashish Arora has sold shares worth $356,286, according to a recent SEC filing. The transactions, which took place over three consecutive days, involved the sale of 66,313 shares of Class A Common Stock in the $1.14 billion market cap company. According to InvestingPro analysis, Cricut maintains a strong financial health profile with more cash than debt on its balance sheet.
The sales were executed at an average price ranging from $5.2886 to $5.3964 per share, amid a challenging period that saw the stock decline 6.47% over the past week. Following these transactions, Arora retains ownership of 3,265,322 shares in the company. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling company stock.
These transactions provide insight into the trading activities of Cricut’s top executive, offering investors a clearer picture of the company’s insider trading dynamics. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.
In other recent news, Cricut Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share of $0.06, surpassing the expected $0.04. However, the company’s revenue for the quarter was $209.3 million, which fell short of the anticipated $231.16 million. Despite the revenue miss, Cricut’s stock experienced a positive response in aftermarket trading. The company has announced plans to increase investments in marketing and research to boost machine sales and improve user engagement. Cricut’s management has indicated that while revenue may decline in the first half of 2025, there is optimism for growth in the second half, supported by strong sell-through rates of new products.
Analysts have adjusted their outlooks following Cricut’s earnings announcement. Goldman Sachs lowered its price target for Cricut to $5.25, maintaining a Neutral rating, while Citi also reduced its price target to $6.00, keeping a Neutral stance. Both firms have cited Cricut’s increased investment plans as a reason for the revised targets. Cricut’s management remains committed to achieving long-term operating margin targets of 15-19% and is focused on enhancing international brand recognition and user engagement. The company reported a 7% year-over-year increase in paid subscribers, with a total of 2.96 million subscribers, which is seen as a positive trend despite challenges in other areas.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.