Crocs, Inc. (NASDAQ:CROX) Holdings Lowered by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its stake in Crocs, Inc. (NASDAQ:CROX) by 20.1% in the second quarter, HoldingsChannel reports. The fund owned 2,477 shares of the textile maker’s stock after selling 622 shares during the quarter. Panagora Asset Management Inc.’s holdings in Crocs were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CROX. V Square Quantitative Management LLC acquired a new stake in Crocs in the first quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Crocs in the first quarter valued at $25,000. Quest Partners LLC acquired a new position in Crocs during the fourth quarter worth about $53,000. Manchester Capital Management LLC raised its position in Crocs by 1,673.5% in the fourth quarter. Manchester Capital Management LLC now owns 603 shares of the textile maker’s stock worth $56,000 after acquiring an additional 569 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Crocs by 12.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,151 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 126 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Anne Mehlman sold 7,150 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $159.01, for a total value of $1,136,921.50. Following the transaction, the executive vice president now owns 143,075 shares in the company, valued at $22,750,355.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now directly owns 81,254 shares in the company, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Insiders have sold a total of 27,744 shares of company stock worth $4,140,855 in the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CROX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. UBS Group dropped their price target on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Stifel Nicolaus raised their price objective on Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Monness Crespi & Hardt boosted their target price on Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Raymond James lowered Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target for the company. in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.27.

Crocs Trading Down 4.3 %

Shares of NASDAQ CROX opened at $139.92 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Crocs, Inc. has a one year low of $74.00 and a one year high of $165.32. The business has a 50-day moving average price of $137.43 and a two-hundred day moving average price of $136.76. The firm has a market capitalization of $8.31 billion, a PE ratio of 10.83, a PEG ratio of 1.56 and a beta of 2.00.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.59 earnings per share. As a group, analysts predict that Crocs, Inc. will post 12.84 earnings per share for the current fiscal year.

Crocs 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.