Crocs (NASDAQ:CROX) Director Sells $2,302,650.00 in Stock

Key Points

• Crocs director Ronald Frasch sold 15,000 shares at an average price of $153.51, generating $2.30 million and reducing his ownership by 19.69% to 61,180 shares.
• Crocs shares rose 0.9% to $154.46, near their 52-week high of $156.75. The company reported quarterly EPS of $3.69, exceeding estimates by $0.38, while revenue increased 4.7% year over year to $1.04 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $158.30 price target; institutional investors own 93.44% of the stock.

Crocs, Inc. (NASDAQ:CROX - Get Free Report) Director Ronald Frasch sold 15,000 shares of the company's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $153.51, for a total value of $2,302,650.00. Following the sale, the director owned 61,180 shares of the company's stock, valued at $9,391,741.80. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crocs Stock Up 0.9%

Crocs stock traded up $1.32 during midday trading on Tuesday, hitting $154.46. 299,548 shares of the company were exchanged, compared to its average volume of 1,199,860. The company's fifty day moving average price is $121.03 and its 200-day moving average price is $110.07. Crocs, Inc. has a fifty-two week low of $73.21 and a fifty-two week high of $156.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.49 and a quick ratio of 0.96. The company has a market cap of $7.40 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.56.

Crocs (NASDAQ:CROX - Get Free Report) last issued its earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $0.38. Crocs had a net margin of 14.64% and a return on equity of 47.75%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business posted $2.92 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts predict that Crocs, Inc. will post 14.62 EPS for the current fiscal year.

Institutional Trading of Crocs

A number of hedge funds have recently bought and sold shares of CROX. BlackRock Inc. bought a new position in shares of Crocs during the second quarter worth about $561,223,000. Patient Capital Management LLC bought a new position in Crocs during the 2nd quarter worth $96,443,000. Bank of New York Mellon Corp acquired a new stake in shares of Crocs during the 2nd quarter worth approximately $39,610,000. Bank of America Corp DE acquired a new position in shares of Crocs during the second quarter worth $33,820,000. Finally, Baird Financial Group Inc. increased its position in Crocs by 450.1% in the 2nd quarter. Baird Financial Group Inc. now owns 166,345 shares of the textile maker's stock valued at $20,068,000 after acquiring an additional 136,106 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Crocs from $120.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday. Williams Trading set a $184.00 target price on Crocs in a report on Friday. Piper Sandler reissued an "overweight" rating on shares of Crocs in a report on Friday. Wall Street Zen upgraded Crocs from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Crocs in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crocs presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.30.

About Crocs

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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