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Board Member of Well-Known Athletic Retailer Offloads Shares

One member of Foot Locker Inc. (NYSE:FL)’s boardroom offloaded a block of shares this week. Board member Cheryl N. Turpin liquidated 10,000 shares on Wednesday at prices that varied from $69.06 to $69.45 per share. After the recent sale, Ms. Turpin currently holds an ownership stake of 40,858 shares.

Foot Locker Inc. (NYSE:FL), one of the largest athletic footwear and apparel retailers in the world, has seen the value of its shares increase by 5% since the start of the year. The company operated 3,401 stores at the end of July, up from 3,383 stores at the end of January. In late September, analysts at JPMorgan added Foot Locker Inc. (NYSE:FL) to their “focus list” and raised their price target on the stock to $79 from $76. JPMorgan analysts said that the athletic retailer’s model is well-positioned in a “growing-pie athletic segment (health & wellness tailwind + casualization shift).” Moreover, the analysts pointed out that the company’s foot traffic is positive, outstripping the negative low to mid-single-digit mall traffic. Ken Griffin’s Citadel Advisors LLC reported owning 1.33 million shares of Foot Locker Inc. (NYSE:FL) in its 13F filing for the second quarter.

Board Member of Strong Performing Digital-Graphics Specialist Sells Some Shares

A member of NVIDIA Corporation (NASDAQ:NVDA)’s Board of Directors also discarded some shares this week. Board member Persis S. Drell liquidated 2,361 shares on Wednesday at prices that fell in the range of $66.58 and $66.59 per share. After the recent sale, Dr. Drell currently holds an ownership stake of 27,152 shares.

The shares of the well-known digital-graphics specialist have gained an impressive 98% year-to-date. It is important to note that the surge in NVIDIA Corporation (NASDAQ:NVDA)’s share price has followed a gradual progression, pointing to investors’ favorable sentiment toward the company. The graphics processing unit specialist reported revenue of $1.43 billion for the three months that ended July 31, marking an increase of 24% year-over-year. Growth in the company’s top line was driven by strong demand for GPUs for gaming, datacenter and professional visualization, as well as for Tegra automotive systems. Drew Cupps’ Cupps Capital Management trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 10% during the September quarter to 30,323 shares.

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