Angela Ogbechie Sells 6,244 Shares of Deckers Outdoor Co. (NYSE:DECK) Stock

Deckers Outdoor Co. (NYSE:DECK - Get Free Report) insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider now directly owns 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Deckers Outdoor Price Performance

DECK stock traded up $1.03 during trading on Friday, reaching $109.35. The company had a trading volume of 1,246,613 shares, compared to its average volume of 2,573,156. The business has a 50 day moving average of $112.40 and a 200 day moving average of $153.81. The company has a market cap of $16.34 billion, a P/E ratio of 17.72, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 52 week low of $93.72 and a 52 week high of $223.98.

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, beating the consensus estimate of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business's revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. Research analysts expect that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

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

Institutional Trading of Deckers Outdoor

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Deckers Outdoor in the fourth quarter worth approximately $247,000. DAVENPORT & Co LLC grew its position in shares of Deckers Outdoor by 8.0% during the 4th quarter. DAVENPORT & Co LLC now owns 4,103 shares of the textile maker's stock valued at $833,000 after acquiring an additional 305 shares during the period. Spire Wealth Management lifted its holdings in Deckers Outdoor by 24.3% during the fourth quarter. Spire Wealth Management now owns 3,741 shares of the textile maker's stock valued at $760,000 after purchasing an additional 731 shares in the last quarter. Finally, Greenleaf Trust increased its stake in shares of Deckers Outdoor by 15.2% in the fourth quarter. Greenleaf Trust now owns 3,518 shares of the textile maker's stock worth $714,000 after purchasing an additional 464 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. TD Securities lifted their target price on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Telsey Advisory Group downgraded shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. Bank of America dropped their price target on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, UBS Group set a $169.00 price objective on Deckers Outdoor and gave the stock a "buy" rating in a research report on Friday, May 23rd. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.68.

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.