Crocs (NASDAQ:CROX) Director Sells 10,714 Shares of Company Stock

Key Points

• Director Douglas Treff sold 10,714 Crocs shares at an average price of $159.21, worth about $1.71 million. After the sale, he retained 61,371 shares, a 14.86% reduction in his holdings.
• Crocs beat quarterly earnings expectations, reporting $3.69 per share versus the $3.31 estimate, with revenue of $1.04 billion, up 4.7% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $158.30; shares traded at $151.86 in Friday’s mid-day session.

Crocs, Inc. (NASDAQ:CROX - Get Free Report) Director Douglas Treff sold 10,714 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $159.21, for a total value of $1,705,775.94. Following the completion of the transaction, the director owned 61,371 shares of the company's stock, valued at $9,770,876.91. The trade was a 14.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Crocs Price Performance

Shares of NASDAQ CROX traded down $1.07 during mid-day trading on Friday, hitting $151.86. 1,095,757 shares of the stock traded hands, compared to its average volume of 1,207,500. The company has a market cap of $6.94 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.49. Crocs, Inc. has a twelve month low of $73.21 and a twelve month high of $161.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.44 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $122.91 and a two-hundred day simple moving average of $111.15.

Crocs (NASDAQ:CROX - Get Free Report) last posted its earnings results on Thursday, October 29th. The textile maker reported $3.69 EPS for the quarter, beating the consensus estimate of $3.31 by $0.38. Crocs had a return on equity of 49.35% and a net margin of 16.20%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $2.92 earnings per share. The business's quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Crocs, Inc. will post 14.62 EPS for the current fiscal year.

Analyst Ratings Changes

CROX has been the subject of several analyst reports. Robert W. Baird set a $163.00 target price on Crocs in a research report on Friday, July 31st. Needham & Company LLC upped their price target on Crocs from $150.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Piper Sandler reissued an "overweight" rating on shares of Crocs in a research note on Friday, October 30th. BTIG Research restated a "neutral" rating on shares of Crocs in a research report on Thursday, October 29th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $128.00 target price on shares of Crocs in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.30.

Institutional Trading of Crocs

A number of institutional investors have recently bought and sold shares of CROX. BlackRock Inc. bought a new stake in Crocs during the 2nd quarter worth approximately $561,223,000. Patient Capital Management LLC purchased a new stake in shares of Crocs in the second quarter worth approximately $96,443,000. Bank of America Corp DE lifted its holdings in shares of Crocs by 130.1% in the first quarter. Bank of America Corp DE now owns 342,053 shares of the textile maker's stock valued at $28,397,000 after purchasing an additional 193,426 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Crocs by 5.7% in the first quarter. Pacer Advisors Inc. now owns 339,478 shares of the textile maker's stock valued at $28,183,000 after purchasing an additional 18,220 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Crocs in the second quarter valued at approximately $39,610,000. Institutional investors own 93.44% of the company's stock.

Crocs Company Profile

Crocs, Inc is a global footwear company best known for its Crocs brand of casual, lightweight shoes. Its product portfolio includes clogs, sandals, slides, boots and other casual footwear, along with accessories such as Jibbitz charms, which are designed to personalize Crocs shoes.

The company was founded in 2002 and introduced its first clog that year. Crocs has expanded from its original molded footwear into a broader lifestyle brand, offering products for women, men and children through company-operated and third-party retail stores, e-commerce platforms and wholesale partners.

In 2022, Crocs completed its acquisition of HEYDUDE, adding the casual shoe brand to its portfolio.

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