Deckers Outdoor Corp 's (NYSE:DECK) President and CEO, David Powers, has recently sold shares of the company's common stock, according to a new SEC filing. The transactions, which took place on March 15, 2024, involved the sale of 5,993 shares at prices ranging from $915.43 to $933.88, bringing the total value of the sold shares to approximately $5.53 million.
In addition to the sale, Powers also acquired the same number of shares through the exercise of stock options at a price of $69.29 per share, totaling approximately $415,254. This transaction was made under a pre-arranged trading plan in accordance with Rule 10b5-1, which allows insiders to set up a predetermined plan to buy or sell company stock at a time when they are not in possession of material non-public information.
The CEO's recent actions have adjusted his holdings in the company, leaving him with 98,218 shares of common stock after the sale. The derivative transactions, which are related to stock options, were also reported in the filing with an exercise date of March 31, 2020, indicating the options were fully vested based on the achievement of performance criteria.
Investors and followers of Deckers Outdoor Corp will likely take note of these transactions as they offer insights into executive sentiment and actions regarding the company's stock. Deckers Outdoor Corp, known for its footwear and apparel, continues to be a significant player in the rubber and plastics footwear industry.
The details of the transactions, including the number of shares sold at each separate price within the ranges reported, are available upon request from the company or the SEC. David Powers's signature was provided by Lisa Bereda, his attorney in fact, as per the document filed on March 18, 2024.
InvestingPro Insights
As investors dissect the recent insider transactions by Deckers Outdoor Corp's (NYSE:DECK) President and CEO, David Powers, they may find additional context in the company's current financial health and market performance. According to InvestingPro data, Deckers Outdoor Corp boasts a robust market capitalization of $23.35 billion. This financial muscle is reflected in a sturdy Price/Earnings (P/E) ratio of 32.86, which, when adjusted for the last twelve months as of Q3 2024, shows a slight decrease to 32.15. This metric suggests that the market values the company's earnings quite highly.
InvestingPro Tips highlight that Deckers Outdoor Corp is trading at a low P/E ratio relative to near-term earnings growth, potentially indicating an attractive valuation for investors considering the company's growth prospects. Moreover, with a significant revenue growth of 15.34% over the last twelve months as of Q3 2024, the company demonstrates a strong capacity to increase its sales. These financial indicators are crucial for stakeholders evaluating the implications of executive stock transactions.
Another notable metric is the company's Price to Book (P/B) ratio, which as of the last twelve months stands at 11.09. This suggests that the market assigns a high value to the company's assets relative to its equity, a consideration for investors interested in the underlying value of Deckers Outdoor Corp. Furthermore, the company's shares are trading near their 52-week high, at 95.62% of this peak, reflecting a strong market confidence and possibly aligning with the CEO's decision to sell shares.
For those looking to delve deeper into Deckers Outdoor Corp's financials and stock performance, InvestingPro offers additional insights and metrics. Currently, there are 16 more InvestingPro Tips available for DECK at InvestingPro. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with real-time data and expert analysis.
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