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Nike stock gained in early Wednesday trade after an SEC filing showed an insider purchase by Apple CEO Tim Cook. Cook also serves on Nike’s board, and investors tracked the move after a sharp post-earnings selloff. Trading stayed light ahead of Christmas.
A Form 4 filing showed Cook bought 50,000 shares of Nike Class B common stock on December 22. The filing listed a weighted average price of $58.97 per share, for a total value near $2.95 million.
The filing noted Cook executed multiple transactions between $58.96 and $58.97. After the trade, Cook held about 105,000 Nike shares, and the disclosure appeared on Tuesday.
Tim Cook joined Nike’s board in 2005 and now acts as lead independent director. Director purchases often draw attention during periods of weak share performance.
Nike shares gained about 2% in premarket trading on December 24 and traded near $58.49. Reuters reported the stock had dropped nearly 13% since Nike released quarterly results on December 18.
Another Nike director, Robert Holmes Swan, also reported an open-market purchase dated December 22. Swan bought 8,691 Nike shares at $57.54, according to insider trade records tied to SEC filings.
Insider buying can draw attention because it reflects personal capital at risk, not stock awards. However, markets still respond to sales trends, margins, and guidance, especially for global brands.
Also Read: Nike’s Q1 Revenue Tops $11.7 Billion, Tariffs May Cut $1.5 Billion From Margins
Nike reported results on December 18 that exceeded revenue expectations, yet profitability weakened. Reuters reported revenue of $12.43 billion, while net income fell 32% and gross margin dropped about 300 basis points.
The same report showed sales in China fell 17%, marking another quarterly decline for that region. Nike also said tariffs could add about $1.5 billion in costs in 2025, which keeps pressure on margins.
Nike said it has discounted older inventory and leaned more on wholesale partners during the reset. Reuters also noted Nike faces stronger competition from brands such as On and Hoka.
Nike projected third-quarter revenue would decline slightly during the holiday season. CEO Elliott Hill said the company remains in recovery mode, with a focus on core sports.
Cook’s purchase did not change Nike’s outlook, yet it highlighted board-level engagement during the turnaround. Investors will track China demand, product launches, inventory levels, and tariff impacts in upcoming updates. The next earnings call provides new checkpoints.
Market participants are monitoring Nike Direct performance and the pace of promotional activity. In addition, they are watching whether wholesale growth can offset softer demand in Nike’s digital channel. Future updates on guidance and China sales are likely to influence Nike stock more than insider purchases.
