Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Crocs, Inc. (NASDAQ:CROX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,855 shares of the textile maker’s stock after selling 869 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crocs were worth $1,014,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Byrne Asset Management LLC boosted its position in Crocs by 60.0% during the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after buying an additional 120 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Crocs by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,720 shares of the textile maker’s stock worth $2,358,000 after purchasing an additional 140 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Crocs by 0.4% during the third quarter. Nordea Investment Management AB now owns 37,802 shares of the textile maker’s stock worth $3,362,000 after purchasing an additional 145 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Crocs by 5.0% during the third quarter. SkyView Investment Advisors LLC now owns 3,135 shares of the textile maker’s stock worth $276,000 after purchasing an additional 149 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Crocs by 8.0% during the third quarter. Great Valley Advisor Group Inc. now owns 2,429 shares of the textile maker’s stock worth $214,000 after purchasing an additional 180 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CROX shares. Piper Sandler increased their target price on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. KeyCorp increased their target price on shares of Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a report on Thursday, April 11th. UBS Group increased their target price on shares of Crocs from $117.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, B. Riley increased their target price on shares of Crocs from $95.00 to $122.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crocs currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Crocs Price Performance

Shares of NASDAQ CROX opened at $125.40 on Friday. Crocs, Inc. has a fifty-two week low of $74.00 and a fifty-two week high of $146.79. The company has a 50 day simple moving average of $128.31 and a two-hundred day simple moving average of $107.61. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.56 and a beta of 2.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30.

Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The business had revenue of $960.10 million during the quarter, compared to the consensus estimate of $958.39 million. During the same quarter last year, the firm earned $2.65 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Crocs, Inc. will post 12.44 EPS for the current fiscal year.

Insider Buying and Selling at Crocs

In related news, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the completion of the sale, the executive vice president now owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the completion of the sale, the executive vice president now owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the sale, the director now directly owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,867 shares of company stock valued at $4,786,276. Corporate insiders own 2.69% of the company’s stock.

Crocs Company 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.