State of Alaska Department of Revenue Lowers Position in Crocs, Inc. (NASDAQ:CROX)

State of Alaska Department of Revenue cut its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,545 shares of the textile maker’s stock after selling 785 shares during the period. State of Alaska Department of Revenue’s holdings in Crocs were worth $611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Crocs by 3.9% in the first quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock valued at $507,811,000 after acquiring an additional 247,828 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Crocs by 4.0% in the first quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock valued at $445,893,000 after acquiring an additional 226,669 shares in the last quarter. State Street Corp lifted its position in shares of Crocs by 1.8% in the first quarter. State Street Corp now owns 2,010,638 shares of the textile maker’s stock valued at $254,225,000 after acquiring an additional 36,361 shares in the last quarter. Morgan Stanley lifted its position in shares of Crocs by 14.9% in the third quarter. Morgan Stanley now owns 1,557,666 shares of the textile maker’s stock valued at $137,433,000 after acquiring an additional 202,392 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Crocs by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,191,820 shares of the textile maker’s stock valued at $150,694,000 after acquiring an additional 53,230 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Crocs Trading Up 0.9 %

Shares of CROX stock opened at $129.41 on Friday. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $151.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The stock’s 50 day simple moving average is $124.59 and its two-hundred day simple moving average is $104.58. The company has a market cap of $7.83 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 1.67 and a beta of 2.01.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business had revenue of $960.10 million for the quarter, compared to the consensus estimate of $958.39 million. During the same period in the prior year, the business posted $2.65 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Crocs, Inc. will post 12.44 earnings per share for the current year.

Insider Transactions at Crocs

In other news, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John B. Replogle purchased 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 39,867 shares of company stock worth $4,786,276. 2.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CROX. B. Riley boosted their price objective on Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday. Bank of America lifted their target price on Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Stifel Nicolaus lifted their target price on Crocs from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Piper Sandler lifted their target price on Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and an average target price of $149.30.

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.