Atria Investments Inc Sells 22,397 Shares of NIKE, Inc. (NYSE:NKE)

Atria Investments Inc reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 80,361 shares of the footwear maker’s stock after selling 22,397 shares during the period. Atria Investments Inc’s holdings in NIKE were worth $7,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Transcendent Capital Group LLC increased its position in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE in the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter valued at about $46,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Barclays dropped their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus decreased their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. decreased their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Price Performance

NIKE stock opened at $76.60 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $114.85 billion, a PE ratio of 21.95, a P/E/G ratio of 1.84 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm’s 50-day simple moving average is $81.39 and its 200 day simple moving average is $83.73.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $0.94 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.