On October 2, 2023, it was reported that &AE Wealth Management LLC has significantly reduced its holdings in Deckers Outdoor Co. (NYSE:DECK) during the second quarter. According to the company’s recent disclosure with the Securities and Exchange Commission (SEC), the institutional investor sold 604 shares of the textile maker’s stock, resulting in a reduction of their stake by 50.7%. As of the most recent filing with the SEC, AE Wealth Management LLC now holds 587 shares of Deckers Outdoor, valued at approximately $310,000.
This news comes as a noteworthy development for investors and analysts following Deckers Outdoor’s performance in the market. The reduction in holdings by a prominent institutional investor like AE Wealth Management LLC indicates a change in investor sentiment or portfolio diversification strategy.
In addition to this change in holdings, an insider transaction involving Deckers Outdoor stock was also disclosed recently. On September 7th, insider Thomas Garcia sold 3,595 shares of Deckers Outdoor stock at an average price of $516.73 per share. The total value of this transaction amounted to $1,857,644.35. Following the sale, Garcia now holds 16,457 shares of the company’s stock, with an estimated value of $8,503,825.61.
These insider transactions provide insights into how corporate insiders perceive the company’s future prospects and may influence investor sentiment and trading activity surrounding Deckers Outdoor stock.
Deckers Outdoor is a well-known textile maker that specializes in footwear and accessories for outdoor activities. As a publicly traded company on the New York Stock Exchange with the ticker symbol DECK, it is subject to various regulations and transparency requirements enforced by government agencies such as the SEC.
Investors are advised to stay informed about developments related to Deckers Outdoor by regularly reviewing reports filed with regulatory authorities like the SEC. These disclosures offer valuable information about institutional holdings, insider transactions, and other pertinent details that can help assess the stock’s potential performance.
While this reduction in holdings by AE Wealth Management LLC and the insider transaction concerning Thomas Garcia are notable, it is important to remember that such activities do not necessarily reflect the overall market sentiment or the company’s true fundamental value. Investors should analyze a wide range of factors before making any investment decisions.
In conclusion, on October 2, 2023, it was reported that AE Wealth Management LLC has reduced its holdings in Deckers Outdoor Co., while an insider transaction involving the company’s stock was disclosed. These developments serve as important information for investors and indicate potential shifts in investor sentiment and corporate insiders’ beliefs about Deckers Outdoor’s future prospects. As always, investors are encouraged to conduct thorough research and consider multiple indicators before making any investment decisions.
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Deckers Outdoor Sees Strong Investor Interest and Positive Outlook
Deckers Outdoor Co., the textile maker known for its popular footwear brand, has recently seen a significant increase in holdings from hedge funds and institutional investors. Morgan Stanley, for instance, has raised its stake by 213.8% during the fourth quarter, now owning over 600,000 shares valued at $244.8 million. Norges Bank also entered a new position in Deckers Outdoor, investing nearly $95 million in the company.
Other notable investors include Assenagon Asset Management S.A., Goldman Sachs Group Inc., and Marshall Wace LLP, all of whom have substantially increased their holdings in Deckers Outdoor. In fact, a staggering 95.69% of the company’s stock is currently owned by institutional investors.
This surge of interest from prominent investors speaks volumes about the potential growth and profitability of Deckers Outdoor. Research analysts are also bullish on the company’s prospects, with several firms increasing their target price for the stock.
Piper Sandler has raised its target price from $535 to $595, giving Deckers Outdoor an “overweight” rating. Similarly, BTIG Research has increased its target price from $613 to $640 while giving the company a “buy” rating. Citigroup and UBS Group have also raised their respective price targets for the stock.
According to Bloomberg.com data, two equities research analysts have given Deckers Outdoor a hold rating while eleven others believe it is a strong buy opportunity. The consensus rating for the stock is deemed as “Moderate Buy”, with an average price target of $577.64.
Shares of DECK opened at $514.09 on Monday with a 50-day moving average of $536.27 and a 200-day moving average of $503.45. With a market capitalization of $13.43 billion and a PE ratio of 25.51, the company seems poised for continued growth.
Deckers Outdoor recently reported its earnings for the second quarter, surpassing analyst expectations with an EPS of $2.41, beating the consensus estimate by $0.25. The company’s revenue for the quarter stood at $675.79 million, a 10.0% increase compared to the previous year.
With these positive financial results and a strong backing from institutional investors, Deckers Outdoor is expected to post impressive earnings per share of 22.4 for the current year.
As we navigate a continually changing economy, Deckers Outdoor stands as a robust player in the textile industry, attracting significant attention from investors and analysts alike. With its well-known brand and solid financial performance, the company appears ready for a prosperous future ahead.
