KLP Kapitalforvaltning AS Takes $1.67 Million Position in Crocs, Inc. (NASDAQ:CROX)

KLP Kapitalforvaltning AS purchased a new stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 15,200 shares of the textile maker's stock, valued at approximately $1,665,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in shares of Crocs by 42.0% in the fourth quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker's stock worth $8,450,000 after buying an additional 22,809 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Crocs by 129.8% in the fourth quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker's stock valued at $2,373,000 after acquiring an additional 12,245 shares during the period. Motley Fool Wealth Management LLC acquired a new stake in Crocs in the 3rd quarter worth $9,097,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Crocs during the third quarter worth about $17,122,000. Finally, Cinctive Capital Management LP bought a new position in Crocs during the third quarter valued at about $4,123,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Crocs Price Performance

Shares of CROX stock traded up $0.21 during trading hours on Monday, hitting $106.20. 1,728,168 shares of the company's stock were exchanged, compared to its average volume of 1,384,782. The stock's 50-day moving average is $102.78 and its 200-day moving average is $112.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. Crocs, Inc. has a 52 week low of $88.25 and a 52 week high of $165.32. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.80 and a beta of 1.84.

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Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The textile maker reported $2.52 earnings per share 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, research analysts forecast that Crocs, Inc. will post 13.2 EPS for the current year.

Analyst Upgrades and Downgrades

CROX has been the subject of a number of research reports. Guggenheim reduced their price objective on Crocs from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Bank of America raised their target price on Crocs from $144.00 to $153.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Robert W. Baird dropped their price objective on shares of Crocs from $180.00 to $150.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $129.00 price objective on shares of Crocs in a report on Thursday, February 13th. Finally, KeyCorp lowered their target price on shares of Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.53.

Insider Buying and Selling

In other news, EVP Shannon Sisler sold 4,659 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares in the company, valued at $3,215,565.25. The trade was a 13.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Adam Michaels sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of 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 position. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

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.