Allspring Global Investments Holdings LLC Trims Holdings in Crocs, Inc. (NASDAQ:CROX)

Allspring Global Investments Holdings LLC trimmed its position in Crocs, Inc. (NASDAQ:CROX) by 24.2% during the third quarter, Holdings Channel.com reports. The firm owned 29,564 shares of the textile maker’s stock after selling 9,422 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crocs were worth $4,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its stake in shares of Crocs by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 14,838 shares of the textile maker’s stock valued at $2,134,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Crocs by 39.1% during the 1st quarter. State of Alaska Department of Revenue now owns 9,103 shares of the textile maker’s stock valued at $1,308,000 after acquiring an additional 2,558 shares during the last quarter. Lifestyle Asset Management Inc. acquired a new position in shares of Crocs during the 1st quarter valued at about $296,000. Private Advisor Group LLC increased its stake in shares of Crocs by 10.0% during the 1st quarter. Private Advisor Group LLC now owns 18,918 shares of the textile maker’s stock valued at $2,720,000 after acquiring an additional 1,717 shares during the last quarter. Finally, Flynn Zito Capital Management LLC acquired a new position in shares of Crocs during the 1st quarter valued at about $249,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the transaction, the director now directly owns 81,254 shares in the company, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Crocs news, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now owns 7,064 shares in the company, valued at $875,653.44. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total value of $1,402,433.72. Following the transaction, the director now owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CROX. UBS Group dropped their price objective on shares of Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Guggenheim began coverage on shares of Crocs in a research report on Wednesday, October 9th. They set a “buy” rating and a $182.00 target price for the company. Barclays dropped their target price on shares of Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp increased their target price on shares of Crocs from $149.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Finally, Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of Crocs in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and an average price target of $162.58.

Crocs Stock Up 3.2 %

Shares of NASDAQ:CROX opened at $138.05 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. Crocs, Inc. has a 52-week low of $74.00 and a 52-week high of $165.32. The company has a 50 day moving average of $138.15 and a two-hundred day moving average of $138.75. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.42. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $3.59 earnings per share. Crocs’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts forecast that Crocs, Inc. will post 12.88 earnings per share for the current fiscal year.

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.