Allspring Global Investments Holdings LLC Increases Position in Crocs, Inc. (NASDAQ:CROX)

Allspring Global Investments Holdings LLC raised its position in Crocs, Inc. (NASDAQ:CROX) by 9,649.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,347 shares of the textile maker’s stock after purchasing an additional 102,287 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of Crocs worth $9,654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CROX. Quarry LP raised its position in Crocs by 245.8% in the second quarter. Quarry LP now owns 249 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 177 shares during the period. Blue Trust Inc. raised its position in Crocs by 185.0% in the fourth quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Harbour Investments Inc. raised its position in Crocs by 440.0% in the first quarter. Harbour Investments Inc. now owns 270 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 220 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of Crocs during the first quarter worth $44,000. Finally, Advisors Asset Management Inc. increased its position in shares of Crocs by 90.2% during the third quarter. Advisors Asset Management Inc. now owns 715 shares of the textile maker’s stock worth $63,000 after acquiring an additional 339 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling at Crocs

In other Crocs news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the transaction, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crocs news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the transaction, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the completion of the transaction, the director now owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders sold 39,867 shares of company stock worth $4,786,276 over the last 90 days. Corporate insiders own 2.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James upped their price objective on Crocs from $120.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 16th. Stifel Nicolaus upped their price objective on Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. KeyCorp upped their price objective on Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Williams Trading reaffirmed a “hold” rating and set a $125.00 price objective (down previously from $135.00) on shares of Crocs in a research report on Tuesday. Finally, B. Riley upped their price objective on Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Crocs has a consensus rating of “Moderate Buy” and an average price target of $147.09.

Crocs Stock Performance

Shares of CROX stock opened at $120.68 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The firm has a fifty day moving average price of $126.12 and a 200 day moving average price of $105.64. The company has a market cap of $7.30 billion, a P/E ratio of 9.42, a PEG ratio of 1.58 and a beta of 2.01. Crocs, Inc. has a 12 month low of $74.00 and a 12 month high of $151.32.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.20. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Crocs’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Crocs, Inc. will post 12.46 earnings per share for the current fiscal year.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.