Crocs, Inc. (NASDAQ:CROX) Shares Sold by Passumpsic Savings Bank

Passumpsic Savings Bank cut its holdings in shares of Crocs, Inc. (NASDAQ:CROX) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,039 shares of the textile maker’s stock after selling 261 shares during the period. Crocs comprises about 2.1% of Passumpsic Savings Bank’s investment portfolio, making the stock its 15th biggest holding. Passumpsic Savings Bank’s holdings in Crocs were worth $3,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. TD Private Client Wealth LLC grew its stake in Crocs by 21.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,245 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 216 shares in the last quarter. Arete Wealth Advisors LLC grew its position in shares of Crocs by 1.3% during the third quarter. Arete Wealth Advisors LLC now owns 20,059 shares of the textile maker’s stock worth $2,905,000 after buying an additional 250 shares in the last quarter. Empire Financial Management Company LLC increased its stake in shares of Crocs by 5.3% in the third quarter. Empire Financial Management Company LLC now owns 6,580 shares of the textile maker’s stock worth $953,000 after buying an additional 332 shares during the last quarter. Savoie Capital LLC raised its holdings in Crocs by 142.9% in the third quarter. Savoie Capital LLC now owns 8,500 shares of the textile maker’s stock valued at $1,231,000 after acquiring an additional 5,000 shares in the last quarter. Finally, ABS Direct Equity Fund LLC raised its holdings in Crocs by 66.7% in the third quarter. ABS Direct Equity Fund LLC now owns 12,500 shares of the textile maker’s stock valued at $1,810,000 after acquiring an additional 5,000 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Trading Up 0.8 %

Shares of NASDAQ:CROX opened at $111.44 on Wednesday. Crocs, Inc. has a fifty-two week low of $85.71 and a fifty-two week high of $165.32. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The company has a market cap of $6.49 billion, a PE ratio of 8.08, a P/E/G ratio of 1.11 and a beta of 1.98. The company’s 50-day moving average price is $117.21 and its 200 day moving average price is $132.85.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Crocs, Inc. will post 12.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CROX. Loop Capital downgraded shares of Crocs from a “buy” rating to a “hold” rating and dropped their target price for the stock from $150.00 to $110.00 in a research report on Thursday, November 7th. Barclays lowered their price objective on Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Robert W. Baird reduced their target price on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Finally, Guggenheim reissued a “buy” rating and set a $155.00 price target on shares of Crocs in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Crocs presently has an average rating of “Moderate Buy” and a consensus price target of $148.80.

Insiders Place Their Bets

In other news, CFO Susan L. Healy bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $99.70 per share, with a total value of $99,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 22,652 shares in the company, valued at approximately $2,258,404.40. This trade represents a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Replogle purchased 2,240 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $112.60 per share, with a total value of $252,224.00. Following the completion of the purchase, the director now owns 9,304 shares in the company, valued at $1,047,630.40. This represents a 31.71 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is currently owned by insiders.

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.