Envestnet Portfolio Solutions Inc. Sells 11,822 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 53.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,292 shares of the textile maker's stock after selling 11,822 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Deckers Outdoor were worth $1,151,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DECK. Mpwm Advisory Solutions LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Deckers Outdoor by 250.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Deckers Outdoor Price Performance

NYSE DECK traded up $2.41 on Friday, reaching $104.34. The stock had a trading volume of 3,919,944 shares, compared to its average volume of 2,622,653. The company has a market cap of $15.59 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 6.33 and a beta of 1.02. Deckers Outdoor Corporation has a 1-year low of $93.72 and a 1-year high of $223.98. The firm has a fifty day moving average of $111.26 and a two-hundred day moving average of $143.44.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.43. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. Deckers Outdoor's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. Research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has approved a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DECK shares. Telsey Advisory Group cut Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $128.00 price objective (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. UBS Group set a $169.00 price target on Deckers Outdoor and gave the company a "buy" rating in a research note on Friday, May 23rd. Stifel Nicolaus dropped their price target on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company dropped their price target on Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Fourteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $140.31.

Insider Activity at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider now directly owns 19,980 shares of the company's stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director now directly owns 10,681 shares in the company, valued at $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

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