Nike leadership is putting money behind their turnaround message. CEO Elliott Hill and board directors Tim Cook and Robert Swan collectively spent $4.45 million on company stock in late December, marking one of the most significant insider buying sprees at Nike in over a decade.
Hill, who took the CEO role in October 2024, purchased $1 million worth of Nike shares on December 30—16,388 shares at $61.10 each. This represents his first stock purchase since becoming chief executive.
Apple CEO Tim Cook, who's served on Nike's board since 2005, made the largest individual investment at nearly $2.95 million. He acquired 50,000 shares at $58.97 on December 22, essentially doubling his personal stake in the company. The purchase marks Cook's first open market Nike stock buy since 2005.
Nike director Robert Swan added 8,691 shares at $57.54, spending approximately $500,000. Swan operates as a partner with Andreessen Horowitz's growth investing team.
The coordinated buying comes as Nike works through its "Win Now" strategy, Hill's turnaround plan introduced in December 2024. Early results have shown progress in North America—up 9% in Q1 2025—and Nike Running has rebounded with products like the Vomero 18 surpassing $100 million in sales after launching in February 2025.
Challenges remain. Greater China sales dropped 17% in the most recent quarter, and Nike's Converse brand continues to struggle with declining sales. The company also faces approximately $1.5 billion in tariff-related costs for 2025.
Guggenheim analyst Simeon Siegel noted the insider purchases as an encouraging signal: "Whether intended as investment or signal, it is encouraging to see management and the board putting their money where their mouth is."
Nike stock jumped 4% following disclosure of the purchases after trading down roughly 19% through 2025—marking its fourth consecutive down year.
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