BNP Paribas Financial Markets Invests $589,000 in Cricut, Inc. (NASDAQ:CRCT)

BNP Paribas Financial Markets acquired a new stake in Cricut, Inc. (NASDAQ:CRCT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 103,385 shares of the company's stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in Cricut by 25.8% in the 4th quarter. American Century Companies Inc. now owns 1,190,019 shares of the company's stock valued at $6,783,000 after buying an additional 244,058 shares during the last quarter. Geode Capital Management LLC increased its stake in Cricut by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,095,510 shares of the company's stock valued at $6,246,000 after buying an additional 14,191 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Cricut by 9.9% during the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock valued at $3,469,000 after acquiring an additional 55,011 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cricut by 175.0% during the 4th quarter. Bank of New York Mellon Corp now owns 476,540 shares of the company's stock valued at $2,716,000 after acquiring an additional 303,236 shares during the period. Finally, Northern Trust Corp grew its position in shares of Cricut by 10.9% during the 4th quarter. Northern Trust Corp now owns 451,772 shares of the company's stock valued at $2,575,000 after acquiring an additional 44,260 shares during the period. Hedge funds and other institutional investors own 19.60% of the company's stock.

Cricut Stock Up 1.6%

CRCT traded up $0.10 on Wednesday, hitting $6.09. The company's stock had a trading volume of 174,183 shares, compared to its average volume of 446,154. The company's 50 day simple moving average is $5.24 and its 200-day simple moving average is $5.49. The firm has a market cap of $1.29 billion, a P/E ratio of 21.80 and a beta of 0.01. Cricut, Inc. has a 12 month low of $3.94 and a 12 month high of $7.17.

Cricut (NASDAQ:CRCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $162.63 million during the quarter, compared to the consensus estimate of $158.55 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. Equities analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.10 dividend. This represents a yield of 3.3%. The ex-dividend date is Monday, July 7th. Cricut's dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 35,203 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.37, for a total value of $189,040.11. Following the completion of the transaction, the chief executive officer now directly owns 3,265,322 shares of the company's stock, valued at $17,534,779.14. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 305,009 shares of company stock valued at $1,820,894. Company insiders own 18.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRCT shares. Morgan Stanley reduced their target price on shares of Cricut from $3.90 to $3.80 and set an "underweight" rating for the company in a research report on Thursday, March 6th. Citigroup reissued a "sell" rating and set a $4.00 target price (down from $6.00) on shares of Cricut in a research report on Monday, April 14th.

Cricut Company Profile

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.