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

BNP Paribas Financial Markets bought a new position in shares of Cricut, Inc. (NASDAQ:CRCT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 103,385 shares of the company’s stock, valued at approximately $589,000.

A number of other institutional investors have also modified their holdings of CRCT. JPMorgan Chase & Co. grew its stake in shares of Cricut by 296.2% in the third quarter. JPMorgan Chase & Co. now owns 185,098 shares of the company’s stock valued at $1,283,000 after buying an additional 138,385 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cricut by 141.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,449 shares of the company’s stock worth $105,000 after buying an additional 10,805 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cricut by 26.3% in the 4th quarter. SG Americas Securities LLC now owns 21,518 shares of the company’s stock valued at $123,000 after purchasing an additional 4,484 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Cricut by 4.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,055 shares of the company’s stock valued at $280,000 after purchasing an additional 2,272 shares during the last quarter. Finally, Drive Wealth Management LLC purchased a new stake in shares of Cricut in the 4th quarter valued at about $64,000. 19.60% of the stock is owned by institutional investors and hedge funds.

Cricut Stock Performance

CRCT stock opened at $5.95 on Friday. Cricut, Inc. has a 1 year low of $3.94 and a 1 year high of $7.17. The firm has a market cap of $1.26 billion, a P/E ratio of 21.25 and a beta of 0.01. The stock’s 50 day moving average price is $5.22 and its 200 day moving average price is $5.49.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $162.63 million for the quarter, compared to analyst estimates of $158.55 million. Cricut had a return on equity of 12.36% and a net margin of 8.47%. On average, research analysts predict that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRCT shares. Morgan Stanley dropped their price target on Cricut from $3.90 to $3.80 and set an “underweight” rating on the stock in a research report on Thursday, March 6th. Citigroup restated a “sell” rating and issued a $4.00 price target (down previously from $6.00) on shares of Cricut in a report on Monday, April 14th.

Insider Buying and Selling

In other Cricut news, CEO Arora Ashish sold 5,283 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $5.25, for a total value of $27,735.75. Following the transaction, the chief executive officer now directly owns 4,059,329 shares of the company’s stock, valued at $21,311,477.25. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 365,009 shares of company stock valued at $2,156,294. 18.61% of the stock is currently owned by company insiders.

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.