Nike Stake Boosted by OneDigital Investment Advisors Amid China Worries
OneDigital Investment Advisors LLC has significantly increased its stake in Nike Inc. (NKE) by 32.8% during the second quarter, according to a recent SEC filing.
The company owned 244,296 shares of Nike's stock after acquiring an additional 60,375 shares during the quarter, valuing its holdings at $10,028,000.
This move comes amidst a tumultuous period for Nike, with analysts cutting price targets and revenue projections due to concerns over the brand's ability to maintain its sales momentum in China.