Crocs (NASDAQ:CROX) CEO Andrew Rees Sells 40,000 Shares of Stock

Crocs, Inc. (NASDAQ:CROX) CEO Andrew Rees sold 40,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $152.89, for a total transaction of $6,115,600.00. Following the completion of the sale, the chief executive officer owned 673,293 shares in the company, valued at approximately $102,939,766.77. This trade represents a 5.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Andrew Rees also recently made the following trade(s):

• On Monday, August 10th, Andrew Rees sold 19,072 shares of Crocs stock. The stock was sold at an average price of $138.91, for a total transaction of $2,649,291.52.
• On Friday, August 7th, Andrew Rees sold 10,928 shares of Crocs stock. The stock was sold at an average price of $137.76, for a total value of $1,505,441.28.

Crocs Stock Down 4.3%

Shares of Crocs stock opened at $152.93 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. The firm has a market cap of $6.99 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.27 and a beta of 1.49. Crocs, Inc. has a fifty-two week low of $73.21 and a fifty-two week high of $161.88. The business has a 50-day moving average price of $122.91 and a 200 day moving average price of $111.15.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.38. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $2.92 earnings per share. Crocs’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Crocs, Inc. will post 14.62 earnings per share for the current fiscal year.

Institutional Trading of Crocs

Several hedge funds have recently made changes to their positions in CROX. BlackRock Inc. acquired a new stake in shares of Crocs in the 2nd quarter worth approximately $561,223,000. Patient Capital Management LLC acquired a new position in shares of Crocs during the second quarter valued at approximately $96,443,000. Bank of New York Mellon Corp acquired a new position in shares of Crocs during the second quarter valued at approximately $39,610,000. Bank of America Corp DE acquired a new position in shares of Crocs during the second quarter valued at approximately $33,820,000. Finally, Baird Financial Group Inc. raised its holdings in Crocs by 450.1% during the second quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker’s stock worth $20,068,000 after purchasing an additional 136,106 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CROX shares. Bank of America boosted their target price on shares of Crocs from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Barclays increased their target price on shares of Crocs from $139.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Robert W. Baird set a $163.00 price target on shares of Crocs in a research report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Crocs in a report on Friday, October 30th. Finally, Weiss Ratings raised shares of Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.30.

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.