Insider Buying: NIKE (NYSE:NKE) Director Acquires $1,002,753.50 in Stock

NIKE, Inc. (NYSE:NKE) Director Jorgen Vig Knudstorp bought 16,150 shares of NIKE stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the purchase, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This represents a 308.32% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NIKE Trading Up 1.7%

Shares of NIKE stock opened at $64.22 on Thursday. The stock has a market capitalization of $94.93 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $68.88 and a 200 day simple moving average of $68.62. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ironsides Asset Advisors LLC raised its holdings in NIKE by 29.5% during the 3rd quarter. Ironsides Asset Advisors LLC now owns 4,372 shares of the footwear maker’s stock worth $305,000 after purchasing an additional 995 shares during the last quarter. Integrity Advisory Solutions LLC bought a new position in shares of NIKE in the 3rd quarter valued at about $573,000. Orion Porfolio Solutions LLC grew its position in shares of NIKE by 108.7% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 88,785 shares of the footwear maker’s stock worth $6,191,000 after buying an additional 46,252 shares during the period. Element Pointe Advisors LLC bought a new stake in shares of NIKE during the third quarter worth approximately $303,000. Finally, Mengis Capital Management Inc. raised its stake in shares of NIKE by 2.8% during the third quarter. Mengis Capital Management Inc. now owns 36,370 shares of the footwear maker’s stock worth $2,536,000 after buying an additional 1,001 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Stifel Nicolaus set a $68.00 price target on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. increased their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.