Paradigm Asset Management Co. LLC Sells 20,100 Shares of NIKE, Inc. $NKE

Paradigm Asset Management Co. LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 97.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569 shares of the footwear maker’s stock after selling 20,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in NIKE were worth $40,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC increased its position in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at about $30,000. Finally, Matrix Trust Co raised its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Truist Financial reissued a “buy” rating and issued a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Finally, Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $61.04 on Friday. The firm has a market capitalization of $90.22 billion, a P/E ratio of 31.30, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The business has a 50-day moving average of $69.65 and a 200-day moving average of $68.52. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

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

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.