Comerica Bank Sells 11,335 Shares of Crocs, Inc. (NASDAQ:CROX)

Comerica Bank lowered its holdings in Crocs, Inc. (NASDAQ:CROXGet Rating) by 29.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,755 shares of the textile maker’s stock after selling 11,335 shares during the quarter. Comerica Bank’s holdings in Crocs were worth $2,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CROX. Banque Cantonale Vaudoise purchased a new position in Crocs during the second quarter valued at approximately $52,000. Wipfli Financial Advisors LLC purchased a new position in Crocs during the third quarter valued at approximately $56,000. Islay Capital Management LLC grew its stake in Crocs by 66.0% during the second quarter. Islay Capital Management LLC now owns 1,580 shares of the textile maker’s stock valued at $77,000 after acquiring an additional 628 shares in the last quarter. Lazard Asset Management LLC grew its stake in Crocs by 56.6% during the second quarter. Lazard Asset Management LLC now owns 1,821 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 658 shares in the last quarter. Finally, Nvwm LLC grew its stake in Crocs by 15.4% during the second quarter. Nvwm LLC now owns 2,654 shares of the textile maker’s stock valued at $129,000 after acquiring an additional 354 shares in the last quarter. Institutional investors own 84.95% of the company’s stock.

Crocs Trading Down 4.7 %

Shares of CROX opened at $121.43 on Friday. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.79 and a beta of 1.89. The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.07 and a current ratio of 1.97. Crocs, Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $131.18. The firm has a 50 day moving average price of $103.70 and a 200-day moving average price of $82.90.

Crocs (NASDAQ:CROXGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The textile maker reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.39. Crocs had a net margin of 17.43% and a return on equity of 172.58%. The company had revenue of $985.09 million during the quarter, compared to analyst estimates of $941.88 million. As a group, equities research analysts forecast that Crocs, Inc. will post 10.43 earnings per share for the current year.

Insider Activity at Crocs

In related news, EVP Shannon Sisler sold 9,940 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $88.00, for a total transaction of $874,720.00. Following the completion of the sale, the executive vice president now directly owns 36,985 shares in the company, valued at approximately $3,254,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Crocs news, CFO Anne Mehlman sold 10,000 shares of the company’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $125.67, for a total value of $1,256,700.00. Following the completion of the transaction, the chief financial officer now directly owns 102,185 shares in the company, valued at approximately $12,841,588.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shannon Sisler sold 9,940 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $88.00, for a total transaction of $874,720.00. Following the completion of the transaction, the executive vice president now owns 36,985 shares of the company’s stock, valued at $3,254,680. The disclosure for this sale can be found here. Insiders sold 79,939 shares of company stock worth $8,320,050 in the last three months. 2.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Loop Capital boosted their price objective on shares of Crocs from $110.00 to $165.00 in a research note on Tuesday. Piper Sandler boosted their price target on shares of Crocs from $118.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, January 12th. Robert W. Baird boosted their price target on shares of Crocs from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 11th. StockNews.com raised shares of Crocs from a “sell” rating to a “hold” rating in a research note on Wednesday, January 11th. Finally, UBS Group boosted their price target on shares of Crocs from $107.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.29.

Crocs Profile

(Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

Further Reading

Want to see what other hedge funds are holding CROX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crocs, Inc. (NASDAQ:CROXGet Rating).

Institutional Ownership by Quarter for Crocs (NASDAQ:CROX)

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