Edgestream Partners L.P. Acquires New Position in Crocs, Inc. (NASDAQ:CROX)

Edgestream Partners L.P. acquired a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the first quarter, HoldingsChannel reports. The fund acquired 5,351 shares of the textile maker’s stock, valued at approximately $769,000.

Other large investors also recently modified their holdings of the company. Raymond James & Associates increased its stake in shares of Crocs by 235.8% during the fourth quarter. Raymond James & Associates now owns 58,514 shares of the textile maker’s stock valued at $5,466,000 after buying an additional 41,091 shares during the period. Nordea Investment Management AB increased its stake in shares of Crocs by 17.0% during the first quarter. Nordea Investment Management AB now owns 51,189 shares of the textile maker’s stock valued at $7,292,000 after buying an additional 7,448 shares during the period. Alaska Permanent Fund Corp increased its stake in shares of Crocs by 282.2% during the first quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock valued at $2,226,000 after buying an additional 11,428 shares during the period. Tyro Capital Management LLC purchased a new position in shares of Crocs during the fourth quarter valued at approximately $10,481,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Crocs by 242.1% during the fourth quarter. BNP Paribas Financial Markets now owns 56,494 shares of the textile maker’s stock valued at $5,277,000 after buying an additional 39,979 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CROX has been the topic of several research reports. Barclays lifted their price target on Crocs from $167.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. B. Riley lifted their price target on Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday, April 11th. Monness Crespi & Hardt lifted their price target on Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price target on Crocs from $140.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

Crocs Stock Performance

Shares of Crocs stock traded down $1.18 during trading on Wednesday, hitting $130.12. 324,558 shares of the company’s stock traded hands, compared to its average volume of 1,331,983. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $165.32. The stock has a market capitalization of $7.90 billion, a P/E ratio of 10.11, a PEG ratio of 1.48 and a beta of 2.00. The business has a 50-day simple moving average of $147.12 and a 200-day simple moving average of $130.15.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The company had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. During the same period last year, the firm posted $2.61 earnings per share. Crocs’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts forecast that Crocs, Inc. will post 12.7 EPS for the current year.

Insider Buying and Selling at Crocs

In other news, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the transaction, the chief executive officer now owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Shannon Sisler sold 1,404 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $149.96, for a total transaction of $210,543.84. Following the completion of the sale, the executive vice president now owns 37,103 shares in the company, valued at $5,563,965.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Rees sold 10,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,178 shares of company stock valued at $4,597,445. 2.72% of the stock is owned by company insiders.

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.