Crocs, Inc. (NASDAQ:CROX) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its holdings in Crocs, Inc. (NASDAQ:CROX) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,528 shares of the textile maker’s stock after selling 794 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Crocs were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CROX. WIT Partners Advisory Pte. Ltd. acquired a new position in shares of Crocs during the fourth quarter worth about $266,431,000. Coatue Management LLC grew its position in shares of Crocs by 836.7% in the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the last quarter. Norges Bank acquired a new stake in shares of Crocs in the fourth quarter valued at approximately $72,211,000. Patient Capital Management LLC purchased a new position in shares of Crocs during the fourth quarter valued at approximately $39,420,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Crocs by 46.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock valued at $71,952,000 after buying an additional 245,240 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Williams Trading reaffirmed a “hold” rating and set a $125.00 price target (down previously from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. Barclays raised their price objective on shares of Crocs from $167.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Wedbush raised their price objective on shares of Crocs from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday, April 11th. Finally, UBS Group lifted their price objective on shares of Crocs from $124.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.83.

Insiders Place Their Bets

In related news, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the transaction, the director now directly owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a filing with the SEC, which is available through this link. In other Crocs news, EVP Shannon Sisler sold 1,404 shares of Crocs stock in a transaction on Friday, May 24th. The shares were sold at an average price of $149.96, for a total transaction of $210,543.84. Following the completion of the transaction, the executive vice president now directly owns 37,103 shares of the company’s stock, valued at $5,563,965.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the completion of the sale, the director now directly owns 115,339 shares of the company’s stock, valued at approximately $16,184,368.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,178 shares of company stock worth $4,597,445. Company insiders own 2.72% of the company’s stock.

Crocs Trading Up 1.7 %

Shares of Crocs stock opened at $147.90 on Thursday. The stock has a market capitalization of $8.98 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.62 and a beta of 2.00. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The company has a 50-day simple moving average of $145.31 and a 200 day simple moving average of $125.77. Crocs, Inc. has a 12-month low of $74.00 and a 12-month high of $165.32.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. During the same quarter last year, the firm earned $2.61 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Crocs, Inc. will post 12.7 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.