Castleark Management LLC Makes New $11.52 Million Investment in Deckers Outdoor Co. (NYSE:DECK)

Castleark Management LLC bought a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 56,710 shares of the textile maker’s stock, valued at approximately $11,517,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Deckers Outdoor by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock valued at $3,582,464,000 after buying an additional 229,807 shares during the last quarter. Geode Capital Management LLC increased its stake in Deckers Outdoor by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker’s stock worth $831,723,000 after acquiring an additional 45,035 shares during the last quarter. Norges Bank purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $392,583,000. Northern Trust Corp boosted its position in shares of Deckers Outdoor by 13.9% during the 4th quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker’s stock valued at $321,228,000 after acquiring an additional 192,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Deckers Outdoor by 11.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker’s stock valued at $289,027,000 after acquiring an additional 145,794 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on DECK. Barclays decreased their price target on Deckers Outdoor from $231.00 to $129.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Truist Financial lowered their target price on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp cut their price target on shares of Deckers Outdoor from $230.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $240.00 price objective on shares of Deckers Outdoor in a research report on Friday, May 16th. Finally, Piper Sandler dropped their target price on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.84.

Deckers Outdoor Stock Up 1.3%

NYSE:DECK opened at $129.12 on Wednesday. The company has a market capitalization of $19.60 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98. The stock has a fifty day simple moving average of $114.55 and a 200-day simple moving average of $159.03.

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the sale, the director now owns 10,388 shares of the company’s stock, valued at approximately $1,396,978.24. This represents a 2.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Powers sold 25,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the sale, the director now directly owns 241,777 shares of the company’s stock, valued at $33,568,318.68. The trade was a 9.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.