Crocs, Inc. (NASDAQ:CROX) Shares Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. boosted its holdings in Crocs, Inc. (NASDAQ:CROX) by 17.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,693 shares of the textile maker’s stock after acquiring an additional 540 shares during the period. Wedbush Securities Inc.’s holdings in Crocs were worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Coatue Management LLC lifted its stake in shares of Crocs by 836.7% in the 4th quarter. Coatue Management LLC now owns 1,029,765 shares of the textile maker’s stock valued at $96,190,000 after purchasing an additional 919,835 shares during the last quarter. Norges Bank acquired a new position in Crocs in the fourth quarter valued at about $72,211,000. Patient Capital Management LLC purchased a new position in Crocs during the fourth quarter worth about $39,420,000. Goldman Sachs Group Inc. increased its position in shares of Crocs by 46.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock valued at $71,952,000 after acquiring an additional 245,240 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Crocs by 8,437.1% during the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock valued at $26,993,000 after acquiring an additional 180,555 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CROX. Bank of America upped their price objective on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. StockNews.com upgraded Crocs from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. UBS Group cut their price objective on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Wedbush restated an “outperform” rating and set a $170.00 target price on shares of Crocs in a report on Monday, July 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $170.00 price target on shares of Crocs in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.27.

Crocs Stock Down 0.3 %

CROX stock opened at $127.73 on Friday. The company’s 50 day moving average price is $135.02 and its 200 day moving average price is $137.12. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.39 and a beta of 2.00. Crocs, Inc. has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 EPS for the quarter, topping 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 analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $3.59 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Crocs, Inc. will post 12.84 EPS for the current fiscal year.

Insider Activity at Crocs

In other Crocs news, CEO Andrew Rees sold 10,000 shares of Crocs stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at approximately $12,771,642.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the completion of the sale, the chief executive officer now owns 79,748 shares in the company, valued at approximately $12,771,642.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Replogle bought 1,996 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 7,064 shares in the company, valued at $875,653.44. The disclosure for this purchase can be found here. Insiders have sold 27,744 shares of company stock valued at $4,140,855 over the last quarter. 2.72% of the stock is owned by insiders.

Crocs Company 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.