Deckers Outdoor (NYSE:DECK) Trading Down 3.9% After Insider Selling

Deckers Outdoor Co. (NYSE:DECK)’s stock price dropped 3.9% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $159.63 and last traded at $160.37. Approximately 448,032 shares changed hands during trading, a decline of 80% from the average daily volume of 2,255,402 shares. The stock had previously closed at $166.81.

Specifically, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the completion of the sale, the chief financial officer now owns 161,838 shares of the company’s stock, valued at approximately $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DECK shares. Guggenheim started coverage on Deckers Outdoor in a research report on Wednesday. They set a “neutral” rating on the stock. Robert W. Baird increased their target price on Deckers Outdoor from $29.17 to $29.86 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial lifted their price target on Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $30.56 price objective on shares of Deckers Outdoor in a report on Friday, July 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $28.61 target price on shares of Deckers Outdoor in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.68.

Deckers Outdoor Price Performance

The business’s 50 day simple moving average is $70.20 and its 200-day simple moving average is $41.31. The stock has a market capitalization of $4.12 billion, a P/E ratio of 5.53, a PEG ratio of 2.74 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $825.30 million for the quarter, compared to analyst estimates of $808.40 million. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. Research analysts anticipate that Deckers Outdoor Co. will post 5.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors have recently modified their holdings of DECK. Whittier Trust Co. of Nevada Inc. boosted its stake in Deckers Outdoor by 460.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Deckers Outdoor in the second quarter worth $34,000. Contravisory Investment Management Inc. bought a new position in shares of Deckers Outdoor during the first quarter worth $36,000. EntryPoint Capital LLC grew its holdings in shares of Deckers Outdoor by 256.3% in the 1st quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock valued at $54,000 after buying an additional 41 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of Deckers Outdoor in the 1st quarter valued at $61,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.