Elliott Hill, Nike, Inc’s president and CEO, and Tim Cook, Apple’s CEO and Nike’s lead independent director, each made significant investments in Nike shares in recent days following the stock’s recent sell-off.
Shares of Nike rose $1.29, or 3.01 percent, on Tuesday, April 14, to $44.20 on reports of the purchases, seen by some investors as a sign of confidence in Hill’s turnaround efforts. The stock is down from its March 31 close of $52.82, after Nike delivered disappointing guidance while reporting its fiscal third-quarter results. The stock is down about a third for the year.
Cook, who has been a Nike board member since 2005 and the board’s lead independent director since 2016, purchased 25,000 shares of Class B Common Stock on April 10, according to a Form 4 filing with the Securities and Exchange Commission. The shares were acquired at a weighted-average price of $42.43 per share in multiple transactions, with prices ranging from $42.42 to $42.44. Following the purchase, Cook holds 130,480 shares directly.
Hill acquired 23,660 shares of Class B common stock on April 13, according to an SEC filing. The transaction was executed at $42.27 per share, totaling approximately $1 million. Following the purchase, Hill holds 265,247 shares directly.
Nike’s management warned on a quarterly call that company revenues are likely to decline 2 percent to 4 percent in the current quarter. Analysts had forecast a 1.9 percent increase. Nike also forecast flat earnings and continued low-single-digit sales declines for the rest of the calendar year 2026, notably below analyst expectations.
Both executives also drew attention for their Nike share purchases at the end of last year. Cook acquired $3 million worth of Nike’s stock on December 22, while Hill purchased $1 million of Nike’s stock on the open market for the first time on December 29.
Image courtesy Nike
