In a recent transaction, Thomas Garcia, the Chief Administrative Officer of Deckers Outdoor Corp (NYSE:DECK), sold a substantial portion of the company's stock. According to a filing with the Securities and Exchange Commission, Garcia sold 18,000 shares of common stock on November 19, 2024. The shares were sold at prices ranging from $172.55 to $176.71, with an average transaction price of $175.28, resulting in a total transaction value of approximately $3.15 million.
Following this sale, Garcia retains ownership of 63,642 shares in Deckers Outdoor. This transaction is part of Garcia's ongoing management of his investment portfolio, and the sale was conducted without the involvement of an equity swap.
In other recent news, Deckers Outdoor Corporation has been making headlines with exceptional financial performance. The company's HOKA brand achieved record-breaking revenue, contributing to sales growth that nearly doubled market expectations. Analysts from Telsey Advisory Group and TD Cowen have responded positively, raising their price targets for Deckers in light of these results.
Deckers also reported significant increases in sales across both its retail channels and various geographic regions. The company's gross margin exceeded forecasts, benefiting from a continued emphasis on higher-margin sales within its UGG and HOKA brands. Based on these strong results, Deckers has revised its full-year outlook upwards, even though the updated guidance falls short of previous consensus expectations for both revenue and earnings.
Other firms such as Evercore ISI, Barclays (LON:BARC), and Jefferies have also expressed confidence in Deckers' performance, raising their price targets and maintaining positive ratings. However, Citi maintained a more cautious stance due to valuation concerns. Despite these concerns, the company's recent achievements underscore Deckers' ongoing growth and strategic market positioning.
InvestingPro Insights
While Thomas Garcia's recent stock sale might raise eyebrows, it's essential to consider Deckers Outdoor Corp's (NYSE:DECK) overall financial health and market performance. According to InvestingPro data, DECK's market capitalization stands at an impressive $26.79 billion, reflecting its strong position in the footwear and apparel industry.
The company's financial metrics paint a picture of robust growth and profitability. DECK's revenue grew by 19.25% over the last twelve months, reaching $4.66 billion. More impressively, its EBITDA growth over the same period was 39.92%, indicating improved operational efficiency. These figures align with an InvestingPro Tip that highlights DECK's high return over the last year.
Another InvestingPro Tip notes that DECK holds more cash than debt on its balance sheet, suggesting a strong financial position. This is particularly relevant in light of Garcia's stock sale, as it indicates the company's ability to fund operations and potential growth initiatives without excessive reliance on debt.
Investors seeking a more comprehensive analysis can access additional insights through InvestingPro, which offers 14 more tips for DECK, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.