Arrowstreet Capital Limited Partnership Purchases 1,244,480 Shares of Crocs, Inc. (NASDAQ:CROX)

Arrowstreet Capital Limited Partnership boosted its position in shares of Crocs, Inc. (NASDAQ:CROX) by 1,516.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,326,564 shares of the textile maker’s stock after buying an additional 1,244,480 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.28% of Crocs worth $145,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Crocs by 42.0% during the 4th quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker’s stock valued at $8,450,000 after acquiring an additional 22,809 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Crocs by 129.8% during the fourth quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker’s stock valued at $2,373,000 after purchasing an additional 12,245 shares in the last quarter. Motley Fool Wealth Management LLC bought a new position in Crocs during the third quarter valued at $9,097,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Crocs in the 3rd quarter worth $17,122,000. Finally, Cinctive Capital Management LP bought a new stake in shares of Crocs in the 3rd quarter worth about $4,123,000. 93.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CROX shares. UBS Group increased their price target on shares of Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Bank of America raised their price objective on Crocs from $144.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, February 14th. KeyCorp cut their target price on Crocs from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Barclays decreased their price target on Crocs from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $129.00 price objective on shares of Crocs in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.53.

Crocs Price Performance

Crocs stock opened at $105.99 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84. The firm has a 50-day moving average of $102.78 and a two-hundred day moving average of $112.81. Crocs, Inc. has a 1 year low of $88.25 and a 1 year high of $165.32.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, February 13th. The textile maker reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.25. Crocs had a return on equity of 46.27% and a net margin of 23.16%. On average, research analysts forecast that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insider Activity

In other Crocs news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now directly owns 89,323 shares in the company, valued at $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.72% 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.