Point72 adds 2.3million shares of Nike to portfolio

By

Cassidy Mantor

Published
Feb 18, 2016

Billionaire Steven Cohen’s Point72 Asset Management LP added 2.3 million shares of Nike to its portfolio last quarter, for a total of $164.4 million as of December 31 2015.

The firm’s holdings total $11.1 billion, with this most recent share purchase increasing its Nike equity from $146.2 million to $164.4 million.

This is not surprising since Nike stock was called the “top performer on the Dow for the year” according to MarketWatch.

As the athleisure trend continues to gain traction, Nike is one of the key drivers of this trend and is in the best position to continue growth. Nike stock currently trades at $57/share, up from $45 this time last year, after a stock split this past December.