Crocs, Inc. $CROX Shares Newly Purchased by Alps Advisors Inc.

Alps Advisors Inc. bought a new stake in Crocs, Inc. (NASDAQ:CROX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,200 shares of the textile maker’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Baird Financial Group Inc. grew its holdings in shares of Crocs by 450.1% in the 2nd quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker’s stock worth $20,068,000 after acquiring an additional 136,106 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Crocs in the 2nd quarter valued at $33,820,000. Legal & General Group Plc purchased a new position in Crocs in the 2nd quarter worth about $8,129,000. Corient Private Wealth LP increased its stake in Crocs by 107.3% in the 2nd quarter. Corient Private Wealth LP now owns 23,832 shares of the textile maker’s stock worth $2,875,000 after purchasing an additional 12,335 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Crocs in the 2nd quarter worth about $2,386,000. 93.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CROX shares. BTIG Research reiterated a “neutral” rating on shares of Crocs in a research report on Thursday, October 29th. Robert W. Baird set a $163.00 price objective on Crocs in a research report on Friday, July 31st. Bank of America upped their price target on shares of Crocs from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “sell” rating and set a $128.00 price objective on shares of Crocs in a research report on Friday, October 30th. Finally, UBS Group lifted their target price on shares of Crocs from $120.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $158.30.

Crocs Stock Performance

NASDAQ:CROX opened at $163.72 on Friday. Crocs, Inc. has a 1 year low of $73.21 and a 1 year high of $164.13. The firm’s fifty day simple moving average is $127.73 and its 200 day simple moving average is $113.38. The company has a current ratio of 1.44, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $7.49 billion, a PE ratio of 12.23, a PEG ratio of 1.25 and a beta of 1.49.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.38. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.92 earnings per share. On average, sell-side analysts anticipate that Crocs, Inc. will post 14.62 EPS for the current year.

Insider Activity

In other news, Director Douglas J. Treff sold 10,714 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $159.21, for a total transaction of $1,705,775.94. Following the completion of the transaction, the director directly owned 61,371 shares of the company’s stock, valued at approximately $9,770,876.91. This trade represents a 14.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rupert George Campbell sold 2,645 shares of Crocs stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $150.87, for a total transaction of $399,051.15. Following the sale, the executive vice president owned 68,573 shares in the company, valued at approximately $10,345,608.51. This trade represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 83,161 shares of company stock valued at $12,775,941. 3.10% of the stock is owned by insiders.

Crocs Profile

Crocs, Inc. designs, markets and distributes casual footwear and related accessories. Its products include clogs, sandals, shoes and boots, with customizable Jibbitz charms among its accessories. The company sells products under the Crocs and HEYDUDE brands. Founded in 2002, Crocs became known for its lightweight molded clogs. It expanded its portfolio with the acquisition of casual footwear brand HEYDUDE in 2022. Crocs serves consumers worldwide through wholesale partners, retail stores and e-commerce.