Crocs, Inc. (NASDAQ:CROX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Crocs, Inc. (NASDAQ:CROX) by 0.0% during the 2nd quarter, Holdings Channel reports. The firm owned 538,666 shares of the textile maker’s stock after selling 224 shares during the period. Bank of New York Mellon Corp’s holdings in Crocs were worth $78,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CROX. Coatue Management LLC grew its holdings in Crocs by 836.7% during the fourth quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock worth $96,190,000 after acquiring an additional 919,835 shares during the period. Norges Bank bought a new stake in shares of Crocs in the 4th quarter worth approximately $72,211,000. Patient Capital Management LLC acquired a new stake in Crocs during the fourth quarter valued at approximately $39,420,000. Goldman Sachs Group Inc. boosted its holdings in Crocs by 46.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after buying an additional 245,240 shares in the last quarter. Finally, Rheos Capital Works Inc. acquired a new position in Crocs in the first quarter worth approximately $22,720,000. Institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling at Crocs

In other news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now owns 81,254 shares in the company, valued at approximately $10,756,404.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Douglas J. Treff sold 10,594 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle bought 1,996 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the acquisition, the director now owns 7,064 shares of the company’s stock, valued at $875,653.44. The disclosure for this purchase can be found here. Insiders sold 27,744 shares of company stock worth $4,140,855 over the last ninety days. 2.72% of the stock is currently owned by insiders.

Crocs Price Performance

Shares of NASDAQ:CROX opened at $145.28 on Friday. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.45 and a beta of 2.00. Crocs, Inc. has a 1 year low of $74.00 and a 1 year high of $165.32. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $137.96 and a 200 day simple moving average of $135.79.

Crocs (NASDAQ:CROX) last issued its earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.42. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.59 EPS. As a group, sell-side analysts predict that Crocs, Inc. will post 12.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CROX. UBS Group reduced their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Raymond James cut Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price target on the stock. in a research note on Friday, August 2nd. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Monness Crespi & Hardt lifted their target price on shares of Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.27.

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.