Profund Advisors LLC Sells 2,984 Shares of NIKE, Inc. $NKE

Profund Advisors LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,802 shares of the footwear maker’s stock after selling 2,984 shares during the period. Profund Advisors LLC’s holdings in NIKE were worth $1,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roberts Glore & Co. Inc. IL lifted its holdings in shares of NIKE by 5.6% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 6,559 shares of the footwear maker’s stock worth $466,000 after acquiring an additional 350 shares during the period. PFG Advisors increased its stake in NIKE by 4,559.6% in the second quarter. PFG Advisors now owns 186,246 shares of the footwear maker’s stock valued at $13,231,000 after acquiring an additional 182,249 shares during the period. Nuance Investments LLC raised its position in NIKE by 31.3% in the second quarter. Nuance Investments LLC now owns 173,853 shares of the footwear maker’s stock worth $12,350,000 after purchasing an additional 41,415 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in NIKE by 14.3% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,941 shares of the footwear maker’s stock worth $280,000 after purchasing an additional 494 shares during the period. Finally, Midwest Trust Co acquired a new stake in NIKE during the second quarter valued at approximately $1,639,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Barclays set a $70.00 target price on shares of NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $115.00 price target on shares of NIKE in a research report on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Stock Down 0.5%

Shares of NYSE:NKE opened at $60.77 on Tuesday. 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 firm has a market cap of $89.83 billion, a P/E ratio of 31.16, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company’s 50-day moving average price is $69.31 and its two-hundred day moving average price is $68.62.

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

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

About NIKE

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.