Geode Capital Management LLC Acquires 15,037 Shares of Crocs, Inc. (NASDAQ:CROX)

Geode Capital Management LLC increased its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,064,644 shares of the textile maker's stock after buying an additional 15,037 shares during the period. Geode Capital Management LLC owned about 1.83% of Crocs worth $116,644,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CROX. HighTower Advisors LLC lifted its stake in shares of Crocs by 122.8% during the third quarter. HighTower Advisors LLC now owns 17,307 shares of the textile maker's stock valued at $2,507,000 after buying an additional 9,539 shares during the period. Stifel Financial Corp increased its stake in shares of 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 acquiring an additional 523 shares during the last quarter. State Street Corp boosted its position in shares of Crocs by 0.7% in the third quarter. State Street Corp now owns 1,812,493 shares of the textile maker's stock worth $262,467,000 after acquiring an additional 13,467 shares during the last quarter. M&T Bank Corp raised its stake in Crocs by 4.3% during the third quarter. M&T Bank Corp now owns 5,601 shares of the textile maker's stock worth $811,000 after purchasing an additional 233 shares during the period. Finally, ABS Direct Equity Fund LLC grew its stake in shares of Crocs by 66.7% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 12,500 shares of the textile maker's stock valued at $1,810,000 after buying an additional 5,000 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Crocs Price Performance

CROX stock traded down $0.15 during trading hours on Monday, hitting $92.42. 216,719 shares of the stock traded hands, compared to its average volume of 1,445,445. The stock has a 50-day simple moving average of $101.91 and a 200 day simple moving average of $109.64. The company has a market cap of $5.18 billion, a P/E ratio of 5.78, a P/E/G ratio of 1.80 and a beta of 1.62. 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, Inc. has a one year low of $86.11 and a one year high of $165.32.

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

Insiders Place Their Bets

In other Crocs news, EVP Shannon Sisler sold 4,659 shares of the company'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 value of $511,325.25. Following the transaction, the executive vice president now owns 29,299 shares in the company, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam Michaels sold 15,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

CROX has been the subject of several research analyst reports. Piper Sandler dropped their price target on Crocs from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday. StockNews.com cut shares of Crocs from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Bank of America lifted their target price on shares of Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a report on Friday, February 14th. Barclays reduced their price objective on Crocs from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, UBS Group boosted their price target on Crocs from $122.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.00.

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.