Nike $NKE ( ▲ 4.33% ) is getting a late-year boost after a regulatory filing showed CEO Elliott Hill purchased just over $1 million of company stock on December 29. Shares rose more than 2% in premarket trading following the disclosure, as investors took the buy as a confidence signal from the top.
Insider buying sends a signal
Hill’s purchase stands out because it’s his first open-market buy since returning to Nike as CEO in October 2024, when he replaced John Donahoe. Insider buying, especially from a CEO, is often read as a sign management believes the stock is undervalued or that internal execution is set to improve.
Context matters for investors: The move also comes shortly after it was revealed that Apple CEO Tim Cook, who sits on Nike’s board, bought nearly $3 million worth of Nike stock last week. While the stock is still down about 17% year to date, back-to-back insider purchases from senior leadership are helping shift sentiment as Nike heads into 2026.
For now, the market seems to be treating Hill’s buy as a vote of confidence that the turnaround story isn’t finished yet.