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Insider Selling: Ashish Arora, Cricut Inc [CRCT] Chief Executive Officer divested 82,169 shares


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cricut Inc shares valued at $614,723 were sold by Ashish Arora on May 14 ’24. At $7.48 per share, Ashish Arora sold 82,169 shares. The insider’s holdings dropped to 1,951,670 shares worth approximately $14.11 million following the completion of this transaction.

Also, Ashish Arora sold 56,581 shares, netting a total of over 399,711 in proceeds. Following the sale of shares at $7.06 each, the insider now holds 2,033,839 shares.

Before that, Ashish Arora had sold 129,186 shares from its account. In a trade valued at $918,125, the Chief Executive Officer traded Cricut Inc shares for $7.11 each. Upon closing the transaction, the insider’s holdings decreased to 129,186 shares, worth approximately $15.11 million.

As published in their initiating research note from Goldman on December 13, 2023, Cricut Inc [CRCT] has been a Neutral and the price target has been revised to $7. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in late August. As of March 09, 2022, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for CRCT. Earlier on October 01, 2021, Barclays downgraded its rating. Their new recommendation was “an Underweight” for CRCT stock which previously was a “an Equal weight”.

Analyzing CRCT Stock Performance

During the last five days, there has been a drop of approximately -11.18%. Over the course of the year, Cricut Inc shares have jumped approximately 9.71%. Shares of the company reached a 52-week high of $8.40 on 05/09/24 and a 52-week low of $4.43 on 03/06/24. A 50-day SMA is recorded $5.37, while a 200-day SMA reached $7.05. Nevertheless, trading volume fell to 0.65 million shares from 0.98 million shares the previous day.

Support And Resistance Levels for Cricut Inc (CRCT)

According to the 24-hour chart, there is a support level at 7.11, which, if violated, would cause prices to drop to 6.98. In the upper region, resistance lies at 7.42. The next price resistance is at 7.60. RSI (Relative Strength Index) is 65.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.96, which suggests the price will decrease in the coming days. Percent R is at 36.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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