Ontario Teachers Pension Plan Board Cuts Holdings in Crocs, Inc. (NASDAQ:CROX)

Ontario Teachers Pension Plan Board lowered its stake in shares of Crocs, Inc. (NASDAQ:CROX) by 37.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,119 shares of the textile maker’s stock after selling 1,902 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Crocs were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CROX. Financial Management Professionals Inc. raised its position in Crocs by 11,200.0% during the third quarter. Financial Management Professionals Inc. now owns 226 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 224 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Crocs by 375.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 228 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Crocs by 64.9% during the 3rd quarter. UMB Bank n.a. now owns 305 shares of the textile maker’s stock valued at $44,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Crocs by 83.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 313 shares of the textile maker’s stock worth $45,000 after buying an additional 142 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Crocs by 109.5% in the third quarter. Avior Wealth Management LLC now owns 398 shares of the textile maker’s stock worth $58,000 after buying an additional 208 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt lowered their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays lowered their price target on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler reiterated an “overweight” rating and issued a $170.00 price objective on shares of Crocs in a report on Friday, August 23rd. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and boosted their target price for the company from $135.00 to $163.00 in a research note on Thursday, August 22nd. Finally, Raymond James cut Crocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.14.

Insider Buying and Selling at Crocs

In related news, Director John B. Replogle bought 2,240 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the acquisition, the director now owns 9,304 shares of the company’s stock, valued at $1,047,630.40. The trade was a 31.71 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan L. Healy bought 1,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the purchase, the chief financial officer now owns 22,652 shares of the company’s stock, valued at approximately $2,258,404.40. The trade was a 4.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.72% of the company’s stock.

Crocs Price Performance

CROX stock opened at $101.81 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs, Inc. has a 1 year low of $85.71 and a 1 year high of $165.32. The firm has a 50-day moving average of $125.57 and a 200 day moving average of $135.88. The company has a market cap of $5.93 billion, a P/E ratio of 7.38, a PEG ratio of 0.99 and a beta of 2.01.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $3.25 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Crocs, Inc. will post 12.93 EPS for the current year.

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.