Crocs’ chief digital officer sells $1.6 million in shares

BROOMFIELD, Colo.—Adam Michaels, Executive Vice President and Chief Digital Officer at Crocs , Inc. (NASDAQ:CROX), a $6.2 billion footwear company currently trading at an attractive P/E ratio of 6.8, recently sold a significant portion of the company’s stock. According to a filing with the Securities and Exchange Commission, Michaels sold a total of 15,000 shares on February 18, 2025, amounting to approximately $1.6 million. InvestingPro analysis suggests the stock is currently undervalued, with strong financial health metrics.

The shares were sold in two separate transactions. The first batch of 9,034 shares was sold at a weighted average price of $106.39, with individual sale prices ranging from $105.78 to $106.73. The second batch of 5,966 shares was sold at a weighted average price of $107.14, with prices ranging from $106.81 to $107.55. The company maintains impressive gross profit margins of 58.8%.

Following these transactions, Michaels holds 89,323 shares of Crocs stock. These sales are part of routine financial maneuvers by company executives and do not necessarily indicate any change in the company’s outlook or performance. InvestingPro subscribers can access 12 additional key insights about CROX, including management’s aggressive share buyback activity and detailed valuation metrics.

In other recent news, Crocs Inc. reported a strong fourth-quarter 2024 performance, surpassing analysts’ expectations with earnings per share (EPS) of $2.52, compared to the forecasted $2.27. The company’s revenue also exceeded projections, reaching $990 million against an anticipated $963.96 million. This positive earnings report has led to adjustments in the stock’s price targets by several analysts. UBS raised its price target for Crocs to $132, maintaining a Neutral rating, while BofA Securities increased its target to $153, reiterating a Buy rating. BofA highlighted Crocs’ attractive risk/reward profile and projected mid-single-digit revenue growth by 2025. Despite the positive earnings, UBS remains cautious, citing Crocs as a low-growth company with a modest 1% five-year EPS compound annual growth rate. Crocs’ revenue for the full year reached $4.1 billion, marking a 4% year-over-year increase, with strong international growth, particularly in China and Western Europe. However, the Hey Dude brand faced a revenue decline, impacting overall growth.

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