Crocs (NASDAQ:CROX) EVP Sells $399,051.15 in Stock

Crocs, Inc. (NASDAQ:CROX) EVP Rupert George Campbell sold 2,645 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $150.87, for a total value of $399,051.15. Following the sale, the executive vice president directly owned 68,573 shares of the company’s stock, valued at $10,345,608.51. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Crocs Trading Down 4.3%

Shares of CROX stock opened at $152.93 on Friday. The business’s 50 day moving average is $122.91 and its two-hundred day moving average is $111.15. Crocs, Inc. has a twelve month low of $73.21 and a twelve month high of $161.88. The company has a market capitalization of $6.99 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. The company has a current ratio of 1.44, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, topping the consensus estimate of $3.31 by $0.38. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business earned $2.92 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Crocs, Inc. will post 14.62 EPS for the current year.

Wall Street Analysts Forecast Growth

CROX has been the subject of a number of analyst reports. Monness Crespi & Hardt upped their price objective on shares of Crocs from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Bank of America lifted their target price on shares of Crocs from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Barclays boosted their price target on shares of Crocs from $139.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Piper Sandler reissued an “overweight” rating on shares of Crocs in a report on Friday, October 30th. Finally, Needham & Company LLC raised their price objective on shares of Crocs from $150.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Crocs has an average rating of “Moderate Buy” and a consensus price target of $158.30.

Institutional Trading of Crocs

A number of institutional investors have recently modified their holdings of CROX. BlackRock Inc. purchased a new position in Crocs in the 2nd quarter valued at approximately $561,223,000. Patient Capital Management LLC acquired a new position in Crocs during the second quarter worth $96,443,000. Bank of America Corp DE raised its holdings in Crocs by 130.1% during the first quarter. Bank of America Corp DE now owns 342,053 shares of the textile maker’s stock worth $28,397,000 after purchasing an additional 193,426 shares during the last quarter. Pacer Advisors Inc. boosted its position in Crocs by 5.7% during the first quarter. Pacer Advisors Inc. now owns 339,478 shares of the textile maker’s stock worth $28,183,000 after purchasing an additional 18,220 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Crocs during the second quarter worth $39,610,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

About Crocs

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.