Insider Selling: Crocs (NASDAQ:CROX) Director Sells 15,000 Shares of Stock

Crocs, Inc. (NASDAQ:CROX) Director Ronald Frasch sold 15,000 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $153.51, for a total value of $2,302,650.00. Following the completion of the sale, the director directly owned 61,180 shares of the company’s stock, valued at $9,391,741.80. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crocs Stock Up 0.9%

Shares of CROX traded up $1.32 on Tuesday, reaching $154.46. The company’s stock had a trading volume of 299,548 shares, compared to its average volume of 1,199,860. The stock has a market capitalization of $7.40 billion, a PE ratio of 11.51, a PEG ratio of 1.00 and a beta of 1.56. The firm has a fifty day moving average of $121.03 and a 200-day moving average of $110.07. Crocs, Inc. has a twelve month low of $73.21 and a twelve month high of $156.75. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.94.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.38. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Crocs had a return on equity of 47.75% and a net margin of 14.64%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 EPS. Equities analysts predict that Crocs, Inc. will post 14.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on CROX. Weiss Ratings upgraded shares of Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Robert W. Baird set a $163.00 target price on shares of Crocs in a research note on Friday, July 31st. Williams Trading set a $184.00 price target on shares of Crocs in a report on Friday. Barclays boosted their price target on shares of Crocs from $139.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Zacks Research raised shares of Crocs from a “hold” rating to a “strong-buy” rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.30.

Hedge Funds Weigh In On Crocs

Several hedge funds have recently made changes to their positions in CROX. BlackRock Inc. bought a new position in shares of Crocs in the 2nd quarter worth approximately $561,223,000. Patient Capital Management LLC bought a new position in Crocs in the 2nd quarter worth $96,443,000. Bank of America Corp DE increased its holdings in Crocs by 130.1% in the 1st quarter. Bank of America Corp DE now owns 342,053 shares of the textile maker’s stock valued at $28,397,000 after acquiring an additional 193,426 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Crocs by 5.7% during the 1st quarter. Pacer Advisors Inc. now owns 339,478 shares of the textile maker’s stock valued at $28,183,000 after buying an additional 18,220 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Crocs in the 2nd quarter valued at $39,610,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.