Allspring Global Investments Holdings LLC Increases Position in Crocs, Inc. (NASDAQ:CROX)

Allspring Global Investments Holdings LLC grew its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 670.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,948 shares of the textile maker's stock after acquiring an additional 187,051 shares during the period. Allspring Global Investments Holdings LLC owned about 0.38% of Crocs worth $23,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Crocs by 50.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 708 shares of the textile maker's stock worth $75,000 after acquiring an additional 236 shares in the last quarter. Paragon Capital Management Inc. acquired a new position in shares of Crocs in the first quarter worth $1,581,000. Kirr Marbach & Co. LLC IN grew its stake in shares of Crocs by 18.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 29,404 shares of the textile maker's stock worth $3,123,000 after acquiring an additional 4,525 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Crocs by 246.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,747 shares of the textile maker's stock worth $1,991,000 after acquiring an additional 13,332 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Crocs in the first quarter worth $1,297,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Activity at Crocs

In other news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $115.89, for a total value of $352,769.16. Following the completion of the sale, the director directly owned 27,505 shares of the company's stock, valued at approximately $3,187,554.45. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Crocs Stock Performance

CROX traded up $0.76 on Friday, reaching $107.50. The company had a trading volume of 560,190 shares, compared to its average volume of 1,524,484. Crocs, Inc. has a 1 year low of $86.11 and a 1 year high of $151.13. The stock has a market capitalization of $6.03 billion, a PE ratio of 6.59, a P/E/G ratio of 2.23 and a beta of 1.38. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $104.64 and a 200-day moving average price of $103.33.

Crocs (NASDAQ:CROX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.51 by $0.49. Crocs had a net margin of 23.35% and a return on equity of 43.07%. The firm had revenue of $937.33 million during the quarter, compared to analysts' expectations of $907.07 million. During the same period in the previous year, the company earned $3.02 earnings per share. Crocs's quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Crocs, Inc. will post 13.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CROX has been the subject of several research reports. Bank of America dropped their price target on shares of Crocs from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Monday, June 30th. The Goldman Sachs Group started coverage on shares of Crocs in a research report on Wednesday. They set a "sell" rating and a $88.00 price objective for the company. Barclays decreased their price objective on shares of Crocs from $122.00 to $119.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Needham & Company LLC lifted their price objective on shares of Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $135.13.

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.