Shellback Capital LP Has $8.81 Million Holdings in Crocs, Inc. (NASDAQ:CROX)

Shellback Capital LP trimmed its stake in Crocs, Inc. (NASDAQ:CROX) by 68.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,374 shares of the textile maker’s stock after selling 129,114 shares during the period. Shellback Capital LP’s holdings in Crocs were worth $8,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CROX. Lighthouse Investment Partners LLC acquired a new position in Crocs during the 2nd quarter worth $243,000. Dark Forest Capital Management LP acquired a new position in shares of Crocs during the 2nd quarter worth about $410,000. Delta Investment Management LLC acquired a new stake in Crocs in the 2nd quarter valued at approximately $206,000. AXA S.A. increased its position in Crocs by 5.9% in the 2nd quarter. AXA S.A. now owns 45,494 shares of the textile maker’s stock worth $6,639,000 after buying an additional 2,536 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of Crocs during the second quarter worth approximately $1,293,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CROX shares. KeyCorp raised their price objective on shares of Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Crocs in a report on Monday, July 29th. Raymond James cut shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 target price for the company. in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and set a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Finally, Bank of America raised their price objective on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average target price of $160.82.

Insider Transactions at Crocs

In related news, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the transaction, the director now directly owns 7,064 shares in the company, valued at $875,653.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John B. Replogle acquired 1,996 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the transaction, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 81,254 shares in the company, valued at $10,756,404.52. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Crocs Trading Up 3.0 %

Shares of CROX stock opened at $147.40 on Friday. The company has a market capitalization of $8.75 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.44 and a beta of 2.00. Crocs, Inc. has a 12-month low of $74.00 and a 12-month high of $165.32. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $135.19 and a 200 day moving average price of $138.31.

Crocs (NASDAQ:CROX) last posted its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $3.59 earnings per share. Crocs’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts forecast that Crocs, Inc. will post 12.85 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.