NIKE Insider Sells Millions in Stock Amid Depressed Valuation

Representative Gilbert Ray Cisneros, Jr., a Democrat from California, recently sold shares of NIKE (NYSE:NKE) stock. According to a filing disclosed on September 10th, he sold between $15,001 and $50,000 in NIKE stock on August 27th.

This trade occurred in the Representative's '150 MAIN STREET TRUST > BANK OF AMERICA' account. The sale is significant as it comes after a period of weak sentiment surrounding NIKE, with some analysts arguing that its core business remains viable despite depressed valuation and a 4.5% dividend yield.