Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nike, Inc. shares valued at $17,679,690 were sold by PARKER MARK G on Feb 14 ’24. At $105.00 per share, PARKER MARK G sold 168,378 shares. The insider’s holdings dropped to 1,178,845 shares worth approximately $111.8 million following the completion of this transaction.
Also, Matheson Monique S. sold 10,000 shares, netting a total of over 1,190,000 in proceeds. Following the sale of shares at $119.00 each, the insider now holds 44,736 shares.
Before that, PARKER MARK G had sold 58,091 shares from its account. In a trade valued at $5,785,864, the EXECUTIVE CHAIRMAN traded Nike, Inc. shares for $99.60 each. Upon closing the transaction, the insider’s holdings decreased to 58,091 shares, worth approximately $119.08 million.
As published in a research note from BofA Securities on April 11, 2024, Nike, Inc. [NKE] has been rated up from a Neutral to a Buy and the price target has been revised to $113 from $110. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late March. As of March 22, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for NKE. Earlier on March 18, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for NKE stock.
Analyzing NKE Stock Performance
During the last five days, there has been a surge of approximately 6.56%. Over the course of the year, Nike, Inc. shares have dropped approximately -12.65%. Shares of the company reached a 52-week high of $107.85 on 01/02/24 and a 52-week low of $88.77 on 04/10/24. A 50-day SMA is recorded $98.65, while a 200-day SMA reached $103.21. Nevertheless, trading volume fell to 10.18 million shares from 10.39 million shares the previous day.
Support And Resistance Levels for Nike, Inc. (NKE)
According to the 24-hour chart, there is a support level at 93.98, which, if violated, would cause prices to drop to 93.11. In the upper region, resistance lies at 95.39. The next price resistance is at 95.93. RSI (Relative Strength Index) is 51.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.27, which suggests the price will increase in the coming days. Percent R is at 3.65%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
