Lazard Asset Management LLC Sells 27,657 Shares of Crocs, Inc. (NASDAQ:CROX)

Lazard Asset Management LLC reduced its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,353 shares of the textile maker's stock after selling 27,657 shares during the quarter. Lazard Asset Management LLC owned about 0.09% of Crocs worth $5,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Crocs by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,477,574 shares of the textile maker's stock worth $599,959,000 after purchasing an additional 47,576 shares during the period. Empowered Funds LLC raised its holdings in Crocs by 42.0% in the 4th quarter. Empowered Funds LLC now owns 77,152 shares of the textile maker's stock valued at $8,450,000 after acquiring an additional 22,809 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Crocs by 129.8% during the 4th quarter. State of Alaska Department of Revenue now owns 21,678 shares of the textile maker's stock valued at $2,373,000 after acquiring an additional 12,245 shares during the period. Impax Asset Management Group plc acquired a new stake in shares of Crocs during the 4th quarter worth $684,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Crocs by 39.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,236 shares of the textile maker's stock worth $1,888,000 after purchasing an additional 4,862 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Adam Michaels sold 15,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total transaction of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at $9,529,870.87. The trade was a 14.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares of the company's stock, valued at $3,215,565.25. The trade was a 13.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,703 shares of company stock worth $2,464,444. 3.00% of the stock is owned by corporate insiders.

Crocs Trading Down 2.4%

Shares of Crocs stock traded down $2.82 during trading on Monday, hitting $114.73. The company's stock had a trading volume of 1,591,600 shares, compared to its average volume of 1,497,618. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46. Crocs, Inc. has a 52 week low of $86.11 and a 52 week high of $165.32. The stock has a 50-day moving average price of $101.60 and a two-hundred day moving average price of $103.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Crocs from $180.00 to $150.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Stifel Nicolaus cut their price target on shares of Crocs from $138.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, April 10th. KeyCorp decreased their price objective on shares of Crocs from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Bank of America upped their target price on Crocs from $144.00 to $153.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Needham & Company LLC lifted their price target on Crocs from $118.00 to $129.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.79.

Crocs Company 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.