Daiwa Securities Group Inc. Trims Stock Position in Crocs, Inc. (NASDAQ:CROX)

Daiwa Securities Group Inc. lowered its position in shares of Crocs, Inc. (NASDAQ:CROX) by 28.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,585 shares of the textile maker’s stock after selling 1,010 shares during the period. Daiwa Securities Group Inc.’s holdings in Crocs were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CROX. Texas Permanent School Fund Corp increased its position in shares of Crocs by 15.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 60,968 shares of the textile maker’s stock worth $8,898,000 after purchasing an additional 7,960 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Crocs by 17.1% in the second quarter. Wedbush Securities Inc. now owns 3,693 shares of the textile maker’s stock valued at $539,000 after buying an additional 540 shares in the last quarter. Fluent Financial LLC purchased a new stake in shares of Crocs in the 2nd quarter valued at $569,000. Arizona State Retirement System boosted its holdings in Crocs by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 16,937 shares of the textile maker’s stock valued at $2,472,000 after acquiring an additional 292 shares during the period. Finally, National Bank of Canada FI increased its stake in Crocs by 8,437.1% during the second quarter. National Bank of Canada FI now owns 182,695 shares of the textile maker’s stock worth $26,993,000 after purchasing an additional 180,555 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CROX shares. Piper Sandler reiterated an “overweight” rating and set a $170.00 target price on shares of Crocs in a report on Friday, August 23rd. StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Williams Trading raised Crocs from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of Crocs in a research report on Monday, July 29th. Finally, Bank of America lifted their price target on shares of Crocs from $160.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Crocs has an average rating of “Moderate Buy” and an average target price of $160.27.

Insider Buying and Selling at Crocs

In other news, Director Douglas J. Treff sold 10,594 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the transaction, the director now directly owns 81,254 shares in the company, valued at approximately $10,756,404.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the acquisition, the director now directly owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.

Crocs Stock Performance

Shares of CROX stock opened at $135.47 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Crocs, Inc. has a 12-month low of $74.00 and a 12-month high of $165.32. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The stock has a 50 day simple moving average of $134.55 and a 200-day simple moving average of $137.49.

Crocs (NASDAQ:CROX) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.59 by $0.42. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. Crocs’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $3.59 EPS. On average, equities analysts forecast that Crocs, Inc. will post 12.85 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.