Alaska Permanent Fund Corp Buys New Shares in Crocs, Inc. (NASDAQ:CROX)

Alaska Permanent Fund Corp purchased a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,050 shares of the textile maker’s stock, valued at approximately $378,000.

Several other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Crocs by 60.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,024,452 shares of the textile maker’s stock valued at $90,387,000 after purchasing an additional 384,390 shares during the period. Pacer Advisors Inc. raised its stake in shares of Crocs by 13.4% in the 4th quarter. Pacer Advisors Inc. now owns 771,305 shares of the textile maker’s stock valued at $72,048,000 after buying an additional 91,318 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Crocs by 141.1% during the 3rd quarter. AQR Capital Management LLC now owns 720,554 shares of the textile maker’s stock valued at $63,574,000 after acquiring an additional 421,712 shares in the last quarter. Voss Capital LLC increased its stake in Crocs by 610.0% in the third quarter. Voss Capital LLC now owns 710,000 shares of the textile maker’s stock valued at $62,643,000 after acquiring an additional 610,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Crocs by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 672,330 shares of the textile maker’s stock worth $59,320,000 after purchasing an additional 30,761 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Activity

In related news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the completion of the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of Crocs stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the completion of the sale, the executive vice president now owns 219,293 shares of the company’s stock, valued at approximately $25,981,834.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the completion of the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CROX. Piper Sandler upped their price objective on Crocs from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. KeyCorp increased their price objective on Crocs from $130.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Bank of America boosted their target price on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group increased their target price on shares of Crocs from $117.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, B. Riley lifted their price target on shares of Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Crocs currently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Crocs Price Performance

CROX opened at $125.40 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The company’s 50 day simple moving average is $128.31 and its 200-day simple moving average is $107.46. Crocs, Inc. has a one year low of $74.00 and a one year high of $146.79. The stock has a market capitalization of $7.61 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.56 and a beta of 2.01.

Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.20. The business had revenue of $960.10 million for the quarter, compared to analyst estimates of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Sell-side analysts anticipate that Crocs, Inc. will post 12.44 earnings per share for the current fiscal year.

Crocs 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.