Clearbridge Investments LLC Reduces Stock Position in Crocs, Inc. (NASDAQ:CROX)

Clearbridge Investments LLC reduced its holdings in Crocs, Inc. (NASDAQ:CROX) by 9.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,573 shares of the textile maker’s stock after selling 57,127 shares during the quarter. Clearbridge Investments LLC owned approximately 0.92% of Crocs worth $81,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Crocs by 8.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after buying an additional 85 shares during the period. Riverwater Partners LLC lifted its position in shares of Crocs by 1.0% during the first quarter. Riverwater Partners LLC now owns 10,725 shares of the textile maker’s stock worth $1,542,000 after purchasing an additional 104 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Crocs by 1.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock valued at $1,036,000 after purchasing an additional 111 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Crocs by 19.3% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $144,000 after acquiring an additional 162 shares in the last quarter. Finally, Rise Advisors LLC acquired a new position in shares of Crocs in the 1st quarter valued at approximately $25,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crocs

In related news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated 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 directly owns 81,254 shares in the company, valued at $10,756,404.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John B. Replogle acquired 1,996 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the transaction, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Crocs Stock Down 0.6 %

CROX stock opened at $140.80 on Thursday. The stock has a market cap of $8.55 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.99. The firm’s 50-day simple moving average is $136.07 and its 200 day simple moving average is $138.83. Crocs, Inc. has a fifty-two week low of $74.00 and a fifty-two week 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.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, beating the consensus estimate of $3.59 by $0.42. The company had revenue of $1.11 billion for 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%. Crocs’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.59 earnings per share. As a group, sell-side analysts predict that Crocs, Inc. will post 12.85 EPS for the current year.

Analyst Upgrades and Downgrades

CROX has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Raymond James lowered shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 target price on the stock. in a research note on Friday, August 2nd. Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $163.00 in a research note on Thursday, August 22nd. KeyCorp upped their price objective on Crocs from $149.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.82.

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.