LPL Financial LLC Sells 13,357 Shares of Crocs, Inc. (NASDAQ:CROX)

LPL Financial LLC trimmed its stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) by 16.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,482 shares of the textile maker's stock after selling 13,357 shares during the quarter. LPL Financial LLC owned about 0.12% of Crocs worth $7,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in Crocs by 35.6% during the 4th quarter. Wells Fargo & Company MN now owns 20,744 shares of the textile maker's stock valued at $2,272,000 after purchasing an additional 5,448 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Crocs by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 198,533 shares of the textile maker's stock worth $21,745,000 after acquiring an additional 10,792 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Crocs by 57.7% during the 4th quarter. Russell Investments Group Ltd. now owns 27,172 shares of the textile maker's stock worth $2,976,000 after acquiring an additional 9,942 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Crocs by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 7,484 shares of the textile maker's stock worth $820,000 after acquiring an additional 336 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Crocs by 12.0% during the 4th quarter. Bank of Montreal Can now owns 13,393 shares of the textile maker's stock worth $1,467,000 after acquiring an additional 1,439 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John B. Replogle acquired 3,261 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $76.69 per share, for a total transaction of $250,086.09. Following the completion of the transaction, the director directly owned 15,417 shares of the company's stock, valued at $1,182,329.73. The trade was a 26.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Crocs Stock Performance

Shares of CROX traded up $0.08 during mid-day trading on Thursday, hitting $83.48. 2,258,482 shares of the company's stock were exchanged, compared to its average volume of 1,790,442. Crocs, Inc. has a 52 week low of $73.76 and a 52 week high of $151.13. The stock's 50-day simple moving average is $100.52 and its 200-day simple moving average is $101.72. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.79 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 1.54 and a debt-to-equity ratio of 0.97.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The textile maker reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.22. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Crocs had a net margin of 5.72% and a return on equity of 44.15%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $4.01 EPS. On average, equities research analysts expect that Crocs, Inc. will post 13.2 EPS for the current year.

Analysts Set New Price Targets

CROX has been the subject of a number of research analyst reports. UBS Group reduced their target price on Crocs from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday. The Goldman Sachs Group reduced their target price on Crocs from $88.00 to $87.00 and set a "sell" rating for the company in a report on Tuesday, July 22nd. Monness Crespi & Hardt reduced their target price on Crocs from $140.00 to $92.00 and set a "buy" rating for the company in a report on Friday, August 8th. Bank of America reduced their target price on Crocs from $135.00 to $99.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, KeyCorp reduced their target price on Crocs from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $108.92.

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.