Davis Investment Partners LLC Sells 2,776 Shares of Crocs, Inc. (NASDAQ:CROX)

Davis Investment Partners LLC cut its holdings in Crocs, Inc. (NASDAQ:CROX - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,996 shares of the textile maker's stock after selling 2,776 shares during the period. Davis Investment Partners LLC's holdings in Crocs were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Crocs by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after acquiring an additional 47,576 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Crocs by 1,516.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,326,564 shares of the textile maker's stock valued at $145,299,000 after buying an additional 1,244,480 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Crocs by 49.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,308,402 shares of the textile maker's stock valued at $143,309,000 after buying an additional 429,994 shares in the last quarter. Geode Capital Management LLC increased its position in Crocs by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,064,644 shares of the textile maker's stock valued at $116,644,000 after buying an additional 15,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Crocs by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,046,600 shares of the textile maker's stock valued at $114,632,000 after buying an additional 89,647 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Crocs news, Director Ian Bickley sold 3,044 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the sale, the director now owns 27,505 shares in the company, valued at $3,187,554.45. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by company insiders.

Crocs Stock Performance

Shares of Crocs stock traded down $0.63 during trading hours on Thursday, reaching $103.66. The company had a trading volume of 1,262,335 shares, compared to its average volume of 1,518,510. Crocs, Inc. has a one year low of $86.11 and a one year high of $165.32. The business has a fifty day simple moving average of $101.76 and a 200 day simple moving average of $104.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The firm has a market cap of $5.81 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.49. Crocs had a return on equity of 46.27% and a net margin of 23.16%. The firm had revenue of $937.33 million during the quarter, compared to analyst estimates of $907.07 million. During the same period last year, the company earned $3.02 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. On average, analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CROX shares. Piper Sandler cut 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, April 11th. Bank of America lifted their price target on Crocs from $144.00 to $153.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Needham & Company LLC upped their target price on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, May 8th. UBS Group upped their target price on Crocs from $122.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Wall Street Zen lowered Crocs from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $139.79.

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.