Insiders including the CEO have been selling shares at footwear purveyor Deckers Outdoor (DECK...


Insiders including the CEO have been selling shares at footwear purveyor Deckers Outdoor (DECK -5.7%), according to SEC filings. Shares hit a new 52-week low.
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Comments (10)
  • phemale60
    , contributor
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    Why make it look worse than it is. Do these look like huge sales?

     

    CEO Angel Martinez sold 2,751 shares, but still owns 239,858 shares – 2/29 Code P

     

    COO Ziv Zohar sold 770 shares, but still owns 140,354 shares – 2/29 Code F

     

    Director James E. Quinn sold 800 shares, but still owns 1,271 shares, 3/1 Code P

     

    Peter Worley, a 10% owner (president of Deckers Asia Pacific), sold 794 shares, but still owns 66,995 shares – 2/29 Code F

     

    Constance Rishwain, a 10% owner (president of Ugg), sold 789 shares at an average price of $75.86, but still owns 119,604 shares – 2/29 Code F

     

    So they took some profits, a drop in their bucket full!!
    7 Mar 2012, 12:42 PM Reply Like
  • blueguy19
    , contributor
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    When does this information become available usually? I see transaction date 2/29, document filed on 03/02 and today is 03/07 very late indeed. Where did you find out about it first?
    7 Mar 2012, 02:08 PM Reply Like
  • blueguy19
    , contributor
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    Moreover just looking at the history of insider trading, last year around the same time there were similar transactions done by all 5 personnel from the management on 03/01/2011. Sounds like tax related sell out, nothing to do with the company fundamentals.
    7 Mar 2012, 02:15 PM Reply Like
  • blueguy19
    , contributor
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    DECK received hefty price-target cut to $97 from $116 at Stifel Nicolaus Research - that could be the reason
    7 Mar 2012, 02:20 PM Reply Like
  • phemale60
    , contributor
    Comments (3028) | Send Message
     
    What I saw this morning on Fidelity:

     

    COVERAGE REITERATED: Deckers Outdoor (DECK) reiterated by Stifel Nicolaus. Reiterated rating Buy.
    Briefing.com – 8:15 AM ET 03/07/2012

     

    I thought it was good news!
    7 Mar 2012, 04:00 PM Reply Like
  • blueguy19
    , contributor
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    price-target cut is definitely not a good news.
    7 Mar 2012, 04:08 PM Reply Like
  • phemale60
    , contributor
    Comments (3028) | Send Message
     
    I saw the insider selling list in a Barron's article thru Yahoo Finance. Selling for tax purposes could be right. Also in that article:

     

    "Deckers is trying to convince men to wear its Uggs brand. Martinez told Bloomberg recently that men “like the fuzzy stuff inside” but won’t admit it. That’s hard to believe. In practice, the Ugg spring campaign for men shows shoes a look quite streamlined compared to those sheepskin clodhoppers."

     

    I've seen one new Uggs style for women with a slimmer toe. Angel should do more of them and use more colors - make them less "clodhopper" like. Women love the comfort but also like changing styles and perhaps the typical Uggs style has worn out, even though I heard this a few years ago, and Uggs still did fabulous. I missed my chance to sell when $113 (or recently even at $80) and hate giving in to the lesser gains. I sell now and the stock takes it as it's cue to move up fast. Never fails. Happened with LVS more times than I can count. I'm sticking with it at least until next year. I mean, how far down can it go?
    7 Mar 2012, 03:57 PM Reply Like
  • phemale60
    , contributor
    Comments (3028) | Send Message
     
    Blueguy,

     

    You were right. Just saw this - from OptionMonster, via Yahoo Finance:

     

    "The maker of the popular Ugg boots and Sperry Topsider deck shoes saw its stock drop sharply after Stern Agee lowered its estimates this morning. Analysts took the action after insiders disclosed that they were selling shares to meet tax obligations."
    7 Mar 2012, 04:10 PM Reply Like
  • blueguy19
    , contributor
    Comments (27) | Send Message
     
    Sam Poser @ Stern Agee is well respected on the street. Not sure what he is seeing in DECK. However I don't like the reasoning that he took action after insider trades were disclosed.
    7 Mar 2012, 04:33 PM Reply Like
  • phemale60
    , contributor
    Comments (3028) | Send Message
     
    I am fairly new at investing but have witnessed analyst influences before. Jim Cramer usd to put down LVS in favor of WYNN for the last couple of years I held LVS, while it steadily climbed!

     

    I think there may be something to the downgrade, due to cost of sheepskin, European recession forecast, our tepid recovery, and the warm weather.

     

    You're right though -- why bring out this trading info now?!! Maybe he missed it last week!

     

    7 Mar 2012, 04:50 PM Reply Like
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