Pinnacle Associates Ltd. Sells 16,124 Shares of Crocs, Inc. (NASDAQ:CROX)

Pinnacle Associates Ltd. trimmed its stake in Crocs, Inc. (NASDAQ:CROX - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,407 shares of the textile maker's stock after selling 16,124 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.06% of Crocs worth $3,401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CROX. Metropolitan Life Insurance Co NY boosted its position in shares of Crocs by 2.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,730 shares of the textile maker's stock worth $404,000 after buying an additional 90 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Crocs by 1.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 6,757 shares of the textile maker's stock valued at $464,000 after buying an additional 114 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Crocs by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,720 shares of the textile maker's stock valued at $2,358,000 after buying an additional 140 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Crocs by 0.4% during the 3rd quarter. Nordea Investment Management AB now owns 37,802 shares of the textile maker's stock worth $3,362,000 after purchasing an additional 145 shares during the period. Finally, SkyView Investment Advisors LLC raised its position in shares of Crocs by 5.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,135 shares of the textile maker's stock worth $276,000 after purchasing an additional 149 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Crocs Price Performance

Shares of CROX traded up $1.95 during trading hours on Monday, hitting $145.75. 1,144,069 shares of the company were exchanged, compared to its average volume of 1,515,602. The company has a market capitalization of $8.82 billion, a PE ratio of 11.23, a PEG ratio of 1.81 and a beta of 2.01. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The firm has a fifty day simple moving average of $118.70 and a 200-day simple moving average of $101.85. Crocs, Inc. has a one year low of $74.00 and a one year high of $151.32.

Crocs (NASDAQ:CROX - Get Free Report) last released its earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.20. The company had revenue of $960.10 million during the quarter, compared to analyst estimates of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 earnings per share. As a group, sell-side analysts predict that Crocs, Inc. will post 12.44 earnings per share for the current year.

Insider Activity

In other Crocs news, Director John B. Replogle bought 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares of the company's stock, valued at $399,642.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Crocs news, Director John B. Replogle bought 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares of the company's stock, valued at $399,642.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Michelle Poole sold 4,793 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the sale, the president now owns 64,912 shares of the company's stock, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. Insiders sold 39,867 shares of company stock worth $4,786,276 over the last quarter. Corporate insiders own 2.69% of the company's stock.

Analyst Upgrades and Downgrades

CROX has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Crocs from $132.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Bank of America increased their price target on Crocs from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. KeyCorp increased their price target on Crocs from $130.00 to $149.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Piper Sandler increased their price target on Crocs from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. Finally, B. Riley increased their price target on Crocs from $93.00 to $95.00 and gave the company a "neutral" rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.60.

About Crocs

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.