Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nike, Inc. shares valued at $15,682,727 were sold by PARKER MARK G on May 14 ’24. At $93.14 per share, PARKER MARK G sold 168,378 shares. The insider’s holdings dropped to 1,102,090 shares worth approximately $101.94 million following the completion of this transaction.
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Also, Nielsen Johanna sold 282 shares, netting a total of over 26,406 in proceeds. Following the sale of shares at $93.64 each, the insider now holds 730 shares.
Before that, Matheson Monique S. had sold 45,000 shares from its account. In a trade valued at $4,237,200, the EVP: CHRO traded Nike, Inc. shares for $94.16 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $4.16 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 0.91%. Over the course of the year, Nike, Inc. shares have dropped approximately -14.80%. 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 $93.64, while a 200-day SMA reached $101.31. Nevertheless, trading volume fell to 7.6 million shares from 7.81 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 91.85, which, if violated, would cause prices to drop to 91.19. In the upper region, resistance lies at 92.96. The next price resistance is at 93.41. RSI (Relative Strength Index) is 47.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 52.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
