Nike Stock Rises After CEO Elliott Hill Buys $1 Million in Shares

Nike Inc. (NYSE: NKE) shares moved higher in after-hours trading on Tuesday, gaining approximately 1.6% after the company disclosed a significant insider stock purchase by its chief executive officer, Elliott Hill. The transaction, revealed in a regulatory filing with the U.S. Securities and Exchange Commission, has drawn attention from investors amid a period of volatility for the athletic apparel giant.

According to the SEC filing, Hill purchased 16,388 shares of Nike stock on December 29 at an average price of $61.10 per share, bringing the total value of the transaction to roughly $1 million. Following the purchase, Hill’s direct ownership in Nike increased to 241,587 shares. Insider buying of this size is often viewed as a bullish signal, as it suggests confidence from top leadership in the company’s long-term prospects and valuation.

The timing of the purchase is notable, as Nike stock has faced pressure in recent months due to challenging market conditions, including shifting consumer demand, increased competition in the global sportswear market, and broader macroeconomic uncertainty. Despite these headwinds, Hill’s personal investment indicates optimism about Nike’s strategic direction and future performance.

The SEC filing also disclosed separate transactions involving Nike co-founder and Chairman Emeritus Philip Knight. Knight acquired approximately 4.5 million Class A convertible shares through a private distribution from Swoosh, LLC. Following the transaction, Knight’s beneficial ownership includes more than 8.3 million Class B common shares held directly, along with additional indirect holdings. These moves highlight continued insider engagement at the highest levels of the company.

Nike has been rolling out strategic initiatives aimed at revitalizing growth, improving operational efficiency, and strengthening its competitive position across key global markets. Efforts include product innovation, digital expansion, and tighter inventory management. Investors often monitor insider activity closely, and the recent stock purchases by Nike executives may reinforce confidence in the company’s turnaround strategy.

As Nike works to navigate near-term challenges, the CEO’s share purchase serves as a strong signal of belief in the brand’s resilience, long-term growth potential, and ability to deliver shareholder value.