Potrero Capital Research LLC Buys Shares of 30,542 Crocs, Inc. (NASDAQ:CROX)

Potrero Capital Research LLC bought a new stake in Crocs, Inc. (NASDAQ:CROX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,542 shares of the textile maker’s stock, valued at approximately $3,345,000. Crocs makes up approximately 1.1% of Potrero Capital Research LLC’s holdings, making the stock its 18th largest holding. Potrero Capital Research LLC owned approximately 0.05% of Crocs at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Crocs by 46.6% in the fourth quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. Allianz SE acquired a new stake in Crocs during the fourth quarter worth approximately $53,000. TD Waterhouse Canada Inc. boosted its position in Crocs by 425.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock worth $74,000 after acquiring an additional 549 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Crocs by 38.3% during the fourth quarter. Jones Financial Companies Lllp now owns 744 shares of the textile maker’s stock worth $81,000 after acquiring an additional 206 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Crocs during the fourth quarter worth approximately $96,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CROX shares. Needham & Company LLC raised their target price on shares of Crocs from $118.00 to $129.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. UBS Group raised their target price on shares of Crocs from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird decreased their target price on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Piper Sandler decreased their target price on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Guggenheim decreased their target price on shares of Crocs from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Crocs presently has an average rating of “Moderate Buy” and an average price target of $139.79.

Insiders Place Their Bets

In other Crocs news, Director Ian Bickley sold 3,044 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $115.89, for a total value of $352,769.16. Following the transaction, the director now owns 27,505 shares in the company, valued at $3,187,554.45. The trade was a 9.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. This represents a 13.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,703 shares of company stock worth $2,464,444 in the last quarter. 2.72% of the stock is owned by corporate insiders.

Crocs Stock Performance

NASDAQ:CROX opened at $118.26 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 1.80 and a beta of 1.46. The firm’s fifty day simple moving average is $100.89 and its 200 day simple moving average is $103.93. Crocs, Inc. has a twelve month low of $86.11 and a twelve month high of $165.32.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.49. The business had revenue of $937.33 million for the quarter, compared to analyst estimates of $907.07 million. Crocs had a net margin of 23.16% and a return on equity of 46.27%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.02 EPS. As a group, equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

About Crocs

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.