BNP Paribas Financial Markets Takes Position in Cricut, Inc. (NASDAQ:CRCT)

BNP Paribas Financial Markets purchased a new stake in shares of Cricut, Inc. (NASDAQ:CRCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 103,385 shares of the company's stock, valued at approximately $589,000.

Several other hedge funds also recently bought and sold shares of 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 worth $6,783,000 after acquiring an additional 244,058 shares during the last quarter. Geode Capital Management LLC grew 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 worth $6,246,000 after acquiring an additional 14,191 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Cricut by 9.9% during the 4th quarter. Renaissance Technologies LLC now owns 608,543 shares of the company's stock worth $3,469,000 after purchasing an additional 55,011 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Cricut by 175.0% in the fourth 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 in the last quarter. Finally, Northern Trust Corp lifted its holdings in Cricut by 10.9% during the fourth quarter. Northern Trust Corp now owns 451,772 shares of the company's stock worth $2,575,000 after buying an additional 44,260 shares during the period. Institutional investors own 19.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup reiterated a "sell" rating and set a $4.00 price objective (down from $6.00) on shares of Cricut in a research note on Monday, April 14th. Morgan Stanley decreased their price objective on Cricut from $3.90 to $3.80 and set an "underweight" rating on the stock in a report on Thursday, March 6th.

Cricut Trading Down 1.3%

CRCT stock traded down $0.08 during trading on Thursday, hitting $5.91. 218,814 shares of the company's stock were exchanged, compared to its average volume of 444,398. The business has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $5.50. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.11 and a beta of 0.01. Cricut, Inc. has a 52-week low of $3.94 and a 52-week high of $7.17.

Cricut (NASDAQ:CRCT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Cricut had a return on equity of 12.36% and a net margin of 8.47%. The business had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. On average, equities research analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current fiscal year.

Cricut Cuts Dividend

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

Insider Activity at Cricut

In other news, CEO Arora Ashish sold 60,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $6.19, for a total value of $371,400.00. Following the transaction, the chief executive officer now directly owns 3,999,329 shares in the company, valued at $24,755,846.51. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 305,009 shares of company stock valued at $1,820,894 over the last quarter. Insiders own 18.61% of the company's stock.

Cricut 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.