Insider Selling: Trevor A. Edwards Sells 96,720 Shares of Nike Stock (NKE)
Nike (NYSE:NKE) VP Trevor A. Edwards unloaded 96,720 shares of Nike stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $77.90, for a total transaction of $7,534,488.00. Following the sale, the vice president now directly owns 222,731 shares in the company, valued at approximately $17,350,745. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Nike (NYSE:NKE) traded up 0.25% on Monday, hitting $78.65. 2,732,403 shares of the company’s stock traded hands. Nike has a 1-year low of $62.03 and a 1-year high of $80.26. The stock’s 50-day moving average is $76.03 and its 200-day moving average is $75.22. The company has a market cap of $68.716 billion and a P/E ratio of 26.41.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.03. The company had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts predict that Nike will post $3.40 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Nike from $87.00 to $89.00 in a research note on Friday, June 27th. They now have a “buy” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of Nike from $78.00 to $80.00 in a research note on Friday, June 27th. They now have a “neutral” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Nike from $70.00 to $75.00 in a research note on Friday, June 27th. They now have a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Nike presently has an average rating of “Buy” and a consensus price target of $83.48.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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