David Powers, a director at Deckers Outdoor Corp (NYSE:DECK), sold shares valued at approximately $6.13 million on November 22, according to a recent SEC filing. The shares were sold in a series of transactions, with prices ranging from $191.05 to $192.61 per share.
The transactions involved a total of 31,000 shares of common stock, which were part of a charitable remainder trust. Following these sales, Powers no longer holds shares in this trust.
Additionally, Powers contributed 32,000 shares to the Powers Charitable Trust, as reported in the filing, though this did not involve a monetary transaction. The trust is managed by Powers and his spouse, who serve as trustees and beneficiaries.
In other recent news, Deckers Outdoor Corporation has experienced significant financial growth, largely driven by its two flagship brands, UGG and HOKA. The company's recent quarterly results revealed robust sales growth that exceeded market expectations. Particularly, the HOKA brand achieved record-breaking revenue for the quarter. Following these impressive results, Deckers has revised its full-year outlook upwards. Needham, Telsey Advisory Group, and TD (TSX:TD) Cowen have all shown confidence in Deckers' performance, raising their price targets and maintaining positive ratings. However, Citi maintained a more cautious stance due to valuation concerns. The company's strong performance has led to an upward revision in its sales and earnings per share (EPS) guidance. In addition, the company executed a six-for-one forward stock split and raised its fiscal 2025 revenue guidance to approximately $4.8 billion. These recent developments underscore Deckers' ongoing growth and strategic market positioning.
InvestingPro Insights
Following the significant insider sale by David Powers, it's worth examining Deckers Outdoor Corp's (NYSE:DECK) current financial position and market performance. According to InvestingPro data, DECK's market capitalization stands at $29.64 billion, reflecting its substantial presence in the footwear and apparel industry.
The company's stock has shown remarkable performance, with a 77.65% total return over the past year and a 74.51% return year-to-date. This strong momentum is further evidenced by the stock trading at 98.15% of its 52-week high, indicating investor confidence in the company's prospects.
However, potential investors should note that DECK is trading at a P/E ratio of 34.08, which some may consider high. This valuation is supported by the company's solid financials, including a revenue of $4.66 billion in the last twelve months and a robust gross profit margin of 57.11%.
An InvestingPro Tip suggests that DECK holds more cash than debt on its balance sheet, which could provide financial flexibility and stability. Another tip indicates that the company's cash flows can sufficiently cover interest payments, further underscoring its financial health.
For those considering DECK as an investment opportunity, it's worth noting that InvestingPro offers 20 additional tips for this stock, providing a more comprehensive analysis for informed decision-making.
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