Key Stats for Nike Stock
- Price Change for Nike stock: 4.6%
- $NKE Share Price as of Dec. 24: $60
- 52-Week High: $82.44
- $NKE Stock Price Target: $77
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What Happened?
Nike (NKE) stock surged 4.6% on Wednesday after Apple CEO Tim Cook bought nearly $3 million worth of shares, signaling confidence in the company’s turnaround efforts.
The purchase, disclosed in a regulatory filing, showed Cook acquiring 50,000 shares at $58.97 each—roughly doubling his personal stake in the sportswear giant.
Cook has served on Nike’s board since 2005 and became lead independent director in 2016. His investment represents the largest open market stock purchase by a Nike director or executive in potentially over a decade, according to Baird Equity Research analyst Jonathan Komp.
The vote of confidence comes just days after Nike reported second-quarter earnings that beat Wall Street expectations despite ongoing challenges in China and margin pressure from tariffs.
Nike stock initially dropped more than 10% following the earnings report on concerns about the company’s China business, where revenue plunged 17% to $1.42 billion.
Another Nike board member, former Intel CEO Robert Swan, also bought approximately 8,700 shares worth about $500,000 this week.
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What the Market Is Telling Us About Nike Stock
The insider buying suggests that those closest to Nike’s turnaround strategy believe the stock has been oversold.
CEO Elliott Hill, who returned to lead the company about a year ago, has been working to revive demand through fresh marketing, innovation focused on running and sports, and rebuilding wholesale partnerships.
Nike stock has struggled this year, down roughly 20% and on track for its fourth straight year of declines. The company faces real headwinds—shrinking margins, a challenging China market, and tariff impacts that hit gross margins by three percentage points last quarter.
North America revenue grew 9% in the quarter, wholesale revenue climbed 8%, and Nike.com posted its best Black Friday ever. Wall Street analysts remain generally bullish, with a mean price target around $80—substantially above the current price near $60.
Bank of America analysts noted they “think consensus estimates are bottoming and see several catalysts that could drive healthier growth,” expecting “gradual progress on innovation will begin to offset the sell down of older styles.”
While Nike acknowledges it’s in the “middle innings” of its comeback with work ahead in China and other markets, Cook’s investment signals that insiders see value at current levels.
For long-term investors, Nike stock may offer an opportunity to buy into a turnaround story at a discount, though patience will be required as the company works through its reset.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
