Granite Investment Partners LLC Sells 3,353 Shares of Crocs, Inc. (NASDAQ:CROX)

Granite Investment Partners LLC cut its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,917 shares of the textile maker's stock after selling 3,353 shares during the period. Granite Investment Partners LLC owned about 0.05% of Crocs worth $3,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp increased its holdings in Crocs by 5.0% during the 3rd quarter. Stifel Financial Corp now owns 10,994 shares of the textile maker's stock valued at $1,592,000 after purchasing an additional 523 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Crocs by 4.3% in the third quarter. M&T Bank Corp now owns 5,601 shares of the textile maker's stock valued at $811,000 after buying an additional 233 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Crocs by 21.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker's stock worth $180,000 after acquiring an additional 216 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Crocs in the third quarter valued at approximately $211,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Crocs in the 3rd quarter worth approximately $73,000. 93.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CROX has been the topic of several recent research reports. Piper Sandler decreased their price target on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Stifel Nicolaus lowered their price target on shares of Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Loop Capital raised their price objective on shares of Crocs from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and issued a $129.00 price target on shares of Crocs in a research report on Thursday, February 13th. Finally, KeyCorp cut their target price on shares of Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Crocs currently has an average rating of "Moderate Buy" and an average target price of $140.00.

Insider Activity at Crocs

In other news, EVP Shannon Sisler sold 4,659 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the transaction, the executive vice president now directly owns 29,299 shares of the company's stock, valued at approximately $3,215,565.25. This trade represents a 13.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Adam Michaels sold 15,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.69, for a total value of $1,600,350.00. Following the sale, the executive vice president now owns 89,323 shares of the company's stock, valued at $9,529,870.87. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

Crocs Stock Performance

Shares of Crocs stock traded up $2.05 during trading on Friday, hitting $90.72. 1,385,259 shares of the stock were exchanged, compared to its average volume of 1,454,018. Crocs, Inc. has a 1-year low of $86.11 and a 1-year high of $165.32. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.62. The company has a fifty day moving average price of $101.58 and a 200-day moving average price of $108.62. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74.

Crocs (NASDAQ:CROX - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. As a group, equities analysts predict that Crocs, Inc. will post 13.2 EPS for the current fiscal year.

About Crocs

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.