Panagora Asset Management Inc. Acquires 1,183 Shares of Deckers Outdoor Co. (NYSE:DECK)

Panagora Asset Management Inc. raised its holdings in Deckers Outdoor Co. (NYSE:DECK) by 96.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,408 shares of the textile maker’s stock after purchasing an additional 1,183 shares during the quarter. Panagora Asset Management Inc.’s holdings in Deckers Outdoor were worth $1,610,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DECK. Morgan Stanley increased its stake in shares of Deckers Outdoor by 82.6% in the 3rd quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after buying an additional 527,546 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Deckers Outdoor in the 3rd quarter valued at $72,727,000. International Assets Investment Management LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at $73,722,000. AQR Capital Management LLC increased its stake in shares of Deckers Outdoor by 99.7% in the 3rd quarter. AQR Capital Management LLC now owns 107,782 shares of the textile maker’s stock valued at $55,410,000 after buying an additional 53,797 shares during the period. Finally, Comerica Bank increased its stake in shares of Deckers Outdoor by 21,149.7% in the 3rd quarter. Comerica Bank now owns 39,737 shares of the textile maker’s stock valued at $20,428,000 after buying an additional 39,550 shares during the period. Institutional investors own 97.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DECK shares. Wells Fargo & Company lifted their price objective on Deckers Outdoor from $625.00 to $775.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Piper Sandler lifted their price objective on Deckers Outdoor from $650.00 to $730.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Bank of America cut Deckers Outdoor from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $875.00 to $860.00 in a research note on Thursday, April 25th. KeyCorp started coverage on Deckers Outdoor in a research note on Wednesday, February 7th. They set an “overweight” rating and a $960.00 price objective for the company. Finally, UBS Group lifted their price objective on Deckers Outdoor from $950.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Deckers Outdoor currently has an average rating of “Moderate Buy” and a consensus price target of $900.31.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock opened at $900.14 on Wednesday. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The stock’s 50-day moving average is $872.61 and its 200-day moving average is $789.59. Deckers Outdoor Co. has a one year low of $424.36 and a one year high of $956.17.

Insider Activity

In related news, Director Bonita C. Stewart sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $871.11, for a total transaction of $3,048,885.00. Following the sale, the director now owns 8,863 shares in the company, valued at $7,720,647.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Powers sold 5,993 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the sale, the chief executive officer now owns 98,218 shares in the company, valued at $80,942,435.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bonita C. Stewart sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $871.11, for a total value of $3,048,885.00. Following the sale, the director now owns 8,863 shares in the company, valued at approximately $7,720,647.93. The disclosure for this sale can be found here. Insiders have sold a total of 15,486 shares of company stock worth $13,518,416 over the last three months. Corporate insiders own 0.70% 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.