1,577 Shares in Crocs, Inc. (NASDAQ:CROX) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Crocs, Inc. (NASDAQ:CROX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,577 shares of the textile maker’s stock, valued at approximately $230,000.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Crocs by 17.0% in the first quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after acquiring an additional 7,448 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Crocs by 282.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock worth $2,226,000 after purchasing an additional 11,428 shares during the period. Tyro Capital Management LLC bought a new position in shares of Crocs during the fourth quarter valued at approximately $10,481,000. Boston Partners purchased a new position in Crocs during the first quarter valued at approximately $10,771,000. Finally, Global Assets Advisory LLC bought a new position in Crocs in the first quarter worth about $7,399,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Stock Performance

Shares of NASDAQ CROX opened at $140.80 on Thursday. The company has a 50 day simple moving average of $136.07 and a two-hundred day simple moving average of $138.83. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.44 and a beta of 1.99. 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 12 month low of $74.00 and a 12 month high of $165.32.

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. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.59 earnings per share. As a group, analysts predict that Crocs, Inc. will post 12.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Crocs in a report on Monday, July 29th. Raymond James cut Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price objective for the company. in a research report on Friday, August 2nd. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $163.00 in a research report on Thursday, August 22nd. Finally, Bank of America raised their price target on Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.82.

Insider Buying and Selling

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’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 value of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction 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 sale, the director now owns 81,254 shares in the company, valued at $10,756,404.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John B. Replogle purchased 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $123.96 per share, with a total value of $247,424.16. Following the acquisition, the director now directly owns 7,064 shares in the company, valued at approximately $875,653.44. The disclosure for this purchase can be found here. 2.72% of the stock is owned by corporate insiders.

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.