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

Lazard Asset Management LLC trimmed its holdings in Crocs, Inc. (NASDAQ:CROX) by 35.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,353 shares of the textile maker’s stock after selling 27,657 shares during the quarter. Lazard Asset Management LLC’s holdings in Crocs were worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its position in Crocs by 46.6% during the 4th quarter. UMB Bank n.a. now owns 447 shares of the textile maker’s stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. Allianz SE bought a new position in shares of Crocs in the 4th quarter worth approximately $53,000. TD Waterhouse Canada Inc. lifted its stake in shares of Crocs by 425.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 678 shares of the textile maker’s stock worth $74,000 after purchasing an additional 549 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Crocs by 38.3% in the 4th quarter. Jones Financial Companies Lllp now owns 744 shares of the textile maker’s stock worth $81,000 after purchasing an additional 206 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Crocs during the 4th quarter worth approximately $96,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Stock Down 0.8%

NASDAQ:CROX opened at $117.27 on Friday. The firm has a market cap of $6.57 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.80 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70. The company has a 50-day moving average of $101.21 and a 200 day moving average of $103.79. Crocs, Inc. has a 1-year low of $86.11 and a 1-year high of $165.32.

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

Insider Activity

In related news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the transaction, the executive vice president now owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Sisler sold 4,659 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $109.75, for a total value of $511,325.25. Following the completion of the sale, the executive vice president now owns 29,299 shares in the company, valued at approximately $3,215,565.25. This represents a 13.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,703 shares of company stock worth $2,464,444 over the last 90 days. 2.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CROX. Piper Sandler decreased their target price on shares of Crocs from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Barclays cut their target price on shares of Crocs from $122.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Guggenheim cut their target price on shares of Crocs from $155.00 to $150.00 and set a “buy” rating for the company in a report on Monday, February 3rd. UBS Group boosted their price objective on shares of Crocs from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird lowered their target price on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.