GOLETA, CA—Stefano Caroti, the President and CEO of Deckers Outdoor Corp (NYSE:DECK), recently sold 14,274 shares of the company's common stock. The sale comes as DECK trades near its 52-week high, with the stock delivering impressive returns of 84% year-to-date and maintaining a "GREAT" financial health score according to InvestingPro analysis. The transaction, which took place on December 11, 2024, was executed at a price of $208.34 per share, totaling approximately $2.97 million. This sale was conducted under a Rule 10b5-1 Trading Plan, a prearranged trading strategy that allows insiders to sell a predetermined number of shares at a predetermined time. Following the transaction, Caroti retains ownership of 259,266 shares in the company. Based on InvestingPro's Fair Value assessment, the stock appears overvalued at current levels, with 17 additional ProTips available to subscribers analyzing various aspects of DECK's performance and valuation.
In other recent news, Deckers Outdoor Corporation has been making headlines due to a series of positive analyst upgrades and strong financial performance. The company's two flagship brands, UGG and HOKA, have been driving impressive sales growth, with HOKA achieving record-breaking revenue. Deckers has also exceeded gross margin forecasts, thanks to a focus on higher-margin sales within its UGG and HOKA brands.
Deckers' robust performance has led to several analyst upgrades. Needham initiated coverage on Deckers Outdoor with a Buy rating and a price target of $218.00, citing the company's strong performance history and effective management team. Truist Securities revised its price target for Deckers Outdoor to $230.00, while maintaining a Buy rating. Telsey Advisory Group and TD (TSX:TD) Cowen also raised their price targets, reflecting confidence in Deckers' strong market position and the enduring appeal of its brand portfolio.
However, Citi maintained a more cautious stance due to valuation concerns, highlighting the potential for limited multiple expansion due to expected increase in competition for the Hoka brand over the coming 12 months. Despite these concerns, these recent developments suggest a promising future for Deckers, with significant growth expected in the coming years.
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