Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nike, Inc. shares valued at $4,093,986 were sold by PARKER MARK G on Aug 14 ’24. At $78.00 per share, PARKER MARK G sold 52,487 shares. The insider’s holdings dropped to 1,031,226 shares worth approximately $86.0 million following the completion of this transaction.
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Also, PARKER MARK G purchased 52,487 shares, netting a total of over 4,093,986 in proceeds.
Before that, Friend Matthew had sold 5,410 shares from its account. In a trade valued at $394,281, the EVP: CFO traded Nike, Inc. shares for $72.88 each. Upon closing the transaction, the insider’s holdings decreased to 5,410 shares, worth approximately $1.4 million.
As published in a research note from Truist on October 10, 2024, Nike, Inc. [NKE] has been rated up from a Hold to a Buy and the price target has been revised to $97 from $83. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in early October. Earlier on July 02, 2024, RBC Capital Mkts resumed its rating. Their recommendation was “a Sector perform” for NKE stock.
Analyzing NKE Stock Performance
During the last five days, there has been a surge of approximately 1.58%. Over the course of the year, Nike, Inc. shares have dropped approximately -23.18%. Shares of the company reached a 52-week high of $107.85 on 01/02/24 and a 52-week low of $70.75 on 08/05/24. A 50-day SMA is recorded $82.28, while a 200-day SMA reached $90.24. Nevertheless, trading volume fell to 9.16 million shares from 11.22 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 82.93, which, if violated, would cause prices to drop to 82.47. In the upper region, resistance lies at 84.31. The next price resistance is at 85.23. RSI (Relative Strength Index) is 51.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 64.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
