Deckers Outdoor Corp 's (NYSE:DECK) Chief Commercial Officer, Stefano Caroti, has sold 5,000 shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on June 6, 2024, amounted to over $5.3 million, with individual shares sold at prices ranging from $1,069.18 to $1,100.42.
The sale was conducted under a Rule 10b5-1 Trading Plan, which allows company insiders to set up a predetermined plan to sell stocks at a specific time. This mechanism is often used by corporate executives to avoid accusations of insider trading, as it demonstrates that the sale was planned in advance and not based on any undisclosed material information.
Following the sale, Caroti still owns 39,926 shares of Deckers Outdoor Corp, indicating a continued vested interest in the company's performance. Deckers Outdoor, known for its footwear and apparel, has been a player in the rubber and plastics footwear industry, with its corporate headquarters located in Goleta, California.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, it's important to note that such sales can be motivated by various factors and do not necessarily signal a lack of confidence in the firm.
Deckers Outdoor Corp's stock, listed under the ticker DECK, may see investor interest following these transactions, as market participants digest the news of Caroti's stock sale.
In other recent news, Deckers Outdoor Corporation, a notable footwear brand, has been the subject of several updated price targets by various firms, following impressive earnings and revenue results. KeyBanc raised its price target for Deckers Outdoor from $960 to $1,015, maintaining an Overweight rating, influenced by the company's strong fiscal year 2025 revenue guidance and the expected growth of the HOKA brand.
Baird also increased its price target for Deckers, from $975 to $1,050, while maintaining an Outperform rating. This adjustment was driven by the company's significant earnings per share (EPS) beat and high actual growth in full-year 2024.
Truist Securities adjusted its price target on Deckers Outdoor shares to $1,011 from $864, continuing to recommend a Hold rating. The revision was prompted by the company's robust financial performance and strong demand for its UGG and HOKA brands.
Williams Trading increased Deckers Outdoor's price target to $1,130 from $1,010, maintaining a Buy rating and citing the company's effective brand management. Lastly, Stifel raised its price target for Deckers Outdoor to $825 from $775, despite maintaining a Hold rating, due to the company's strong financial performance in the fourth fiscal quarter. These recent developments underline the financial market's confidence in Deckers Outdoor's continued growth and robust financial performance.
InvestingPro Insights
As Deckers Outdoor Corp (NYSE:DECK) makes headlines with the insider sale by Chief Commercial Officer Stefano Caroti, the company's financial health and market performance continue to be a focus for investors. According to InvestingPro data, Deckers holds a market capitalization of $27.11 billion, reflecting its significant presence in the footwear and apparel market. The company's P/E ratio stands at 36.36, with an adjusted P/E ratio for the last twelve months as of Q4 2024 at 35.35, suggesting a valuation that takes into account the company's earnings capacity.
Deckers has experienced robust revenue growth, with an 18.21% increase over the last twelve months as of Q4 2024. This growth momentum is further highlighted by a quarterly revenue growth of 21.25% for Q4 2024. Moreover, the company's gross profit margin remains strong at 55.63%, indicating effective cost management and a solid competitive edge in its sector.
One of the InvestingPro Tips notes that Deckers is trading at a low P/E ratio relative to near-term earnings growth, which could be an attractive point for value investors considering the company's recent performance and growth trajectory. Additionally, the company's cash flows are reported to sufficiently cover interest payments, providing a measure of financial stability and resilience.
With a total of 19 additional InvestingPro Tips available, investors can delve deeper into the company's financial nuances and market position. For those interested in gaining an edge in their investment strategy, using the coupon code PRONEWS24 offers an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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