Crocs (NASDAQ:CROX) CEO Sells $6,115,600.00 in Stock

Crocs, Inc. (NASDAQ:CROX) CEO Andrew Rees sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $152.89, for a total value of $6,115,600.00. Following the completion of the sale, the chief executive officer owned 673,293 shares in the company, valued at $102,939,766.77. This represents a 5.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Andrew Rees also recently made the following trade(s):

• On Monday, August 10th, Andrew Rees sold 19,072 shares of Crocs stock. The stock was sold at an average price of $138.91, for a total value of $2,649,291.52.
• On Friday, August 7th, Andrew Rees sold 10,928 shares of Crocs stock. The stock was sold at an average price of $137.76, for a total value of $1,505,441.28.

Crocs Stock Performance

Shares of CROX stock traded down $6.88 during trading on Thursday, reaching $152.96. 1,370,954 shares of the company’s stock were exchanged, compared to its average volume of 1,208,020. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $6.99 billion, a PE ratio of 11.42, a PEG ratio of 1.22 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 firm’s fifty day moving average price is $122.32 and its 200-day moving average price is $110.81.

Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Thursday, October 29th. The textile maker reported $3.69 earnings per share (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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $2.92 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Crocs, Inc. will post 14.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Crocs from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Needham & Company LLC increased their price target on shares of Crocs from $150.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Piper Sandler restated an “overweight” rating on shares of Crocs in a research report on Friday, October 30th. Weiss Ratings upgraded Crocs from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Finally, Monness Crespi & Hardt upped their target price on Crocs from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.30.

Institutional Investors Weigh In On Crocs

A number of hedge funds and other institutional investors have recently made changes to their positions in CROX. AlphaCore Capital LLC grew its position in Crocs by 33.5% during the third quarter. AlphaCore Capital LLC now owns 2,763 shares of the textile maker’s stock worth $324,000 after buying an additional 694 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Crocs in the 3rd quarter valued at $1,551,000. Allspring Global Investments Holdings LLC raised its holdings in Crocs by 9.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,070 shares of the textile maker’s stock valued at $3,109,000 after acquiring an additional 2,273 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Crocs during the 3rd quarter valued at $610,000. Finally, Heritage Family Offices LLP bought a new stake in shares of Crocs during the 3rd quarter valued at $45,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.