Wealthfront Advisers LLC Takes Position in Crocs, Inc. (NASDAQ:CROX)

Wealthfront Advisers LLC acquired a new stake in shares of Crocs, Inc. (NASDAQ:CROX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,569 shares of the textile maker's stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in shares of Crocs by 26.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the textile maker's stock worth $67,000 after acquiring an additional 132 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Crocs by 5.3% during the 4th quarter. ProShare Advisors LLC now owns 2,726 shares of the textile maker's stock worth $299,000 after acquiring an additional 137 shares during the last quarter. Riverwater Partners LLC lifted its stake in shares of Crocs by 0.9% during the 4th quarter. Riverwater Partners LLC now owns 19,974 shares of the textile maker's stock worth $2,188,000 after acquiring an additional 177 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Crocs by 20.9% during the 1st quarter. Whipplewood Advisors LLC now owns 1,064 shares of the textile maker's stock worth $113,000 after acquiring an additional 184 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Crocs by 43.6% in the first quarter. UMB Bank n.a. now owns 642 shares of the textile maker's stock valued at $68,000 after purchasing an additional 195 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CROX shares. Bank of America reduced their price objective on Crocs from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Needham & Company LLC raised their price objective on Crocs from $118.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays reduced their price objective on Crocs from $122.00 to $119.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Piper Sandler reduced their price objective on Crocs from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, Stifel Nicolaus reduced their price objective on Crocs from $138.00 to $127.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $135.07.

Crocs Stock Down 1.0%

NASDAQ CROX traded down $1.03 during midday trading on Friday, hitting $106.75. 1,170,382 shares of the company traded hands, compared to its average volume of 1,087,970. The company's 50-day simple moving average is $104.30 and its 200-day simple moving average is $102.80. The company has a market cap of $5.98 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 0.97. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $151.13.

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

Insider Activity

In other news, Director Ian Bickley sold 3,044 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $115.89, for a total transaction of $352,769.16. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

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.