Three Bridge Wealth Advisors LLC Has $821,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Three Bridge Wealth Advisors LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,806 shares of the footwear maker’s stock after selling 597 shares during the period. Three Bridge Wealth Advisors LLC’s holdings in NIKE were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Range Financial Group LLC acquired a new stake in NIKE in the 4th quarter worth about $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.4 %

NIKE stock opened at $72.31 on Thursday. The company has a market capitalization of $106.96 billion, a PE ratio of 22.32, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. The firm’s fifty day moving average is $74.80 and its 200 day moving average is $78.08. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Stifel Nicolaus cut their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.