Deckers Outdoor Corporation (NYSE:DECK) Shares Sold by Crown Advisors Management Inc.

Key Points

• Crown Advisors Management Inc. has reduced its stake in Deckers Outdoor Corporation by 66.7%, now owning only 20,000 shares valued at approximately $2.24 million.
• Institutional investors collectively hold 97.79% of Deckers Outdoor's stock, indicating a strong presence of large investors in the company.
• Deckers Outdoor recently posted impressive earnings, reporting an EPS of $0.93, exceeding analyst expectations, and its revenue increased by 16.9% year-over-year.

Crown Advisors Management Inc. lowered its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 66.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the textile maker's stock after selling 40,000 shares during the period. Deckers Outdoor accounts for 2.0% of Crown Advisors Management Inc.'s investment portfolio, making the stock its 24th largest holding. Crown Advisors Management Inc.'s holdings in Deckers Outdoor were worth $2,236,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mpwm Advisory Solutions LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth $26,000. Vega Investment Solutions acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth $29,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Deckers Outdoor in the 1st quarter worth $34,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth $41,000. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Deckers Outdoor by 352.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock worth $44,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Truist Financial raised their price objective on shares of Deckers Outdoor from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Robert W. Baird raised their price objective on shares of Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. KGI Securities upgraded shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $128.00 price objective (up previously from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Trading Down 1.0%

Shares of NYSE DECK traded down $1.05 during midday trading on Friday, reaching $102.81. 2,655,669 shares of the stock were exchanged, compared to its average volume of 3,976,303. The company has a market capitalization of $15.25 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.94 and a beta of 0.99. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The stock has a 50 day moving average price of $104.48 and a 200-day moving average price of $118.86.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. The business had revenue of $964.54 million during the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The company's quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.52 earnings per share. On average, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider directly owned 19,980 shares of the company's stock, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cindy L. Davis bought 1,825 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the transaction, the director directly owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company's stock.

Deckers Outdoor Profile

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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.