Skandinaviska Enskilda Banken AB publ Acquires New Position in Crocs, Inc. (NASDAQ:CROX)

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Crocs, Inc. (NASDAQ:CROX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,500 shares of the textile maker’s stock, valued at approximately $2,339,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CROX. Victory Capital Management Inc. grew its position in Crocs by 40.2% during the third quarter. Victory Capital Management Inc. now owns 20,907 shares of the textile maker’s stock valued at $3,028,000 after purchasing an additional 5,995 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Crocs by 16.2% in the third quarter. Oppenheimer & Co. Inc. now owns 12,374 shares of the textile maker’s stock worth $1,792,000 after acquiring an additional 1,724 shares in the last quarter. KBC Group NV grew its position in Crocs by 11.9% in the third quarter. KBC Group NV now owns 1,659 shares of the textile maker’s stock worth $240,000 after acquiring an additional 177 shares in the last quarter. Huntington National Bank grew its position in Crocs by 178.5% in the third quarter. Huntington National Bank now owns 738 shares of the textile maker’s stock worth $107,000 after acquiring an additional 473 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Crocs by 17.1% in the third quarter. Natixis Advisors LLC now owns 12,221 shares of the textile maker’s stock worth $1,770,000 after acquiring an additional 1,783 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Crocs Price Performance

NASDAQ:CROX opened at $98.60 on Monday. The stock has a market cap of $5.53 billion, a P/E ratio of 6.17, a PEG ratio of 1.80 and a beta of 1.84. Crocs, Inc. has a one year low of $88.25 and a one year high of $165.32. The company has a fifty day moving average price of $102.70 and a 200 day moving average price of $114.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 0.70.

Crocs (NASDAQ:CROX) last released its earnings results on Thursday, February 13th. The textile maker reported $2.52 EPS for the quarter, beating the consensus estimate of $2.27 by $0.25. Crocs had a net margin of 23.16% and a return on equity of 46.27%. Analysts anticipate that Crocs, Inc. will post 13.2 earnings per share for the current year.

Insider Activity

In other news, EVP Adam Michaels sold 15,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.69, for a total value of $1,600,350.00. Following the completion of the transaction, the executive vice president now owns 89,323 shares in the company, valued at approximately $9,529,870.87. This represents a 14.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Shannon Sisler sold 4,659 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $109.75, for a total transaction of $511,325.25. Following the completion of the transaction, the executive vice president now owns 29,299 shares of the company’s stock, valued at approximately $3,215,565.25. This represents a 13.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CROX shares. Loop Capital raised shares of Crocs from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Wednesday, March 12th. Bank of America boosted their target price on shares of Crocs from $144.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays decreased their target price on shares of Crocs from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Robert W. Baird decreased their target price on shares of Crocs from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com downgraded shares of Crocs from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.53.

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.