Yahoo Finance Insider Sale: EVP & CFO Matthew Friend Sells 9,350 Shares of Nike Inc (NKE)
On June 5, 2024, Matthew Friend, Executive Vice President and Chief Financial Officer of Nike Inc (NYSE:NKE), sold 9,350 shares of the company. The transaction was executed at a price of $95.1 per share, as detailed in the SEC Filing. Following this sale, the insider now owns 27,311.686 shares of Nike Inc.
Nike Inc, a global leader in athletic footwear, apparel, equipment, and accessories, is known for its strong brand and innovative products. The company's market presence spans numerous countries, providing sports and lifestyle products under its well-known brand.
Over the past year, Matthew Friend has sold a total of 14,895 shares and has not made any purchases of the company's stock. This recent transaction follows a pattern observed in the insider transaction history for Nike Inc, which shows a predominance of insider selling activities. Over the past year, there has been only 1 insider buy compared to 10 insider sells.
Shares of Nike Inc were trading at $95.1 on the day of the sale, giving the company a market cap of approximately $145.73 billion. The price-earnings ratio of the stock stands at 28.40, which is above the industry median of 19.4.
According to the GF Value, the intrinsic value of Nike Inc is estimated at $132.17 per share, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.72.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider might be of interest to investors tracking insider behaviors as an indicator of potential stock performance, particularly in the context of the company's current valuation and market trends.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
