50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Cricut CEO Ashish Arora sells shares worth $388,392

Published 21/12/2024, 00:48
Cricut CEO Ashish Arora sells shares worth $388,392
CRCT
-

Ashish Arora, the Chief Executive Officer of Cricut , Inc. (NASDAQ:CRCT), a company with a market capitalization of $1.27 billion and an "GREAT" financial health rating according to InvestingPro, has recently sold a substantial amount of the company’s Class A Common Stock. According to the latest SEC filings, Arora sold a total of 63,750 shares over three consecutive days ending December 20, 2024. The transactions were executed at prices ranging from $5.9438 to $6.3109 per share, amounting to a total value of approximately $388,392. The company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 3.16x.

These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Arora adopted in August 2024. Following these transactions, Arora retains ownership of 3,780,840 shares of Cricut’s stock. The sales were executed in multiple transactions, with detailed pricing available upon request from Cricut Inc. For comprehensive insider trading analysis and 8 additional key insights about CRCT, visit InvestingPro, where you’ll find detailed Pro Research Reports covering what really matters about this and 1,400+ other stocks.

In other recent news, Cricut, Inc. reported a 4% year-on-year decline in total revenue for Q3 2024, amounting to $167.9 million. Despite the overall decrease, the creative technology company observed a slight uptick in platform revenue and a 5% growth in paid subscribers. However, product revenue fell by 7%, largely due to a drop in connected machines revenue, a strategic move attributed to increased promotional activities planned for the holiday season.

Cricut also reported a decrease in gross margin and a significant fall in operating income, but managed to maintain a positive net income for the 23rd consecutive quarter. The company plans to continue investing in marketing and product innovation, bolstered by a strong balance sheet with $247 million in cash and no debt.

In terms of future expectations, Cricut anticipates a decline in total sales for the full year, but expects growth in paid subscribers and slight increases in platform revenue. These are recent developments as the company aims to enhance user engagement and its subscription model. Despite challenges in product revenue and overall engagement, Cricut remains optimistic about its strategic shift towards annual subscriptions and international growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.