Penserra Capital Management LLC Decreases Stock Position in Crocs, Inc. (NASDAQ:CROX)

Penserra Capital Management LLC cut its holdings in Crocs, Inc. (NASDAQ:CROX) by 68.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322 shares of the textile maker’s stock after selling 690 shares during the period. Penserra Capital Management LLC’s holdings in Crocs were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CROX. Arrowstreet Capital Limited Partnership raised its stake in Crocs by 1,516.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker’s stock valued at $145,299,000 after buying an additional 1,244,480 shares in the last quarter. Norges Bank acquired a new stake in Crocs in the fourth quarter valued at $62,221,000. Altshuler Shaham Ltd raised its stake in Crocs by 30,778.0% in the fourth quarter. Altshuler Shaham Ltd now owns 456,995 shares of the textile maker’s stock valued at $50,055,000 after buying an additional 455,515 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Crocs by 49.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker’s stock valued at $143,309,000 after buying an additional 429,994 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Crocs by 167.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 490,544 shares of the textile maker’s stock valued at $53,730,000 after buying an additional 307,185 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ian Bickley sold 3,044 shares of Crocs stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $115.89, for a total transaction of $352,769.16. Following the completion of the sale, the director directly owned 27,505 shares in the company, valued at approximately $3,187,554.45. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Crocs Stock Performance

NASDAQ CROX opened at $103.75 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Crocs, Inc. has a 52-week low of $86.11 and a 52-week high of $151.13. The business’s 50-day moving average price is $105.56 and its 200 day moving average price is $103.14. The firm has a market cap of $5.82 billion, a P/E ratio of 6.36, a P/E/G ratio of 2.16 and a beta of 1.38.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.49. The firm had revenue of $937.33 million during the quarter, compared to the consensus estimate of $907.07 million. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.02 earnings per share. On average, equities research analysts expect that Crocs, Inc. will post 13.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler cut their price target on Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Needham & Company LLC raised their price objective on Crocs from $118.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group assumed coverage on Crocs in a report on Wednesday, July 2nd. They set a “sell” rating and a $88.00 price objective on the stock. Loop Capital raised their price objective on Crocs from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Finally, Stifel Nicolaus dropped their price objective on Crocs from $138.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.13.

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.