NEW YORK, January 1, 2026, 08:08 ET — Market closed
- Nike shares last closed up about 4% at $63.71 after CEO Elliott Hill disclosed an open-market buy.
- A Form 4 filing showed Hill bought 16,388 shares at a weighted average $61.10.
- Next catalysts include early-January U.S. data and Nike’s next earnings report on March 19.
Nike, Inc. shares rose 4.1% on Wednesday to close at $63.71 after Chief Executive Elliott Hill disclosed an open-market purchase of about $1 million in stock. Hill bought 16,388 Class B shares at a weighted-average $61.10 on Dec. 29, bringing his direct holdings to 241,587 shares, a Form 4 filing — the SEC’s required disclosure of insider trades — showed. The filing said the buy was executed in multiple transactions between $61.09 and $61.10.
Insider buying is closely watched because executives typically know their business best, and open-market purchases can signal confidence when investors are split on a turnaround.
That matters for Nike because the company is trying to rebuild momentum under Hill while it clears older inventory and navigates uneven demand across regions, including China.
Nike’s gain also stood out on a down day for the broader market as Wall Street closed out 2025 with a fourth straight daily decline, even though major indexes still posted annual gains. U.S. markets are closed on Thursday for New Year’s Day.
Hill’s buy follows other recent insider activity at Nike. Apple CEO Tim Cook, Nike’s lead independent director, bought 50,000 shares at $58.97 each in late December, and Baird analyst Jonathan Komp said, “(We see) Cook’s move as a positive signal for the progress under CEO Elliott Hill and Nike’s ‘Win Now’ actions,” Reuters reported. Reuters
Nike said on Dec. 18 that second-quarter revenue rose 1% to $12.4 billion, while gross margin — a key profitability measure — fell 300 basis points, or three percentage points, to 40.6%. Wholesale revenue rose 8% to $7.5 billion, while Nike Direct — sales through its own stores and digital channels — fell 8% to $4.6 billion, the company said. Inventories stood at $7.7 billion, down 3%.
Investors are now looking for signs that margin pressure eases as Nike refreshes key product lines and that wholesale strength can offset softness in its direct and digital channels. The next test is less about symbolism and more about execution: sell-through, inventory and guidance.
Nike’s outperformance contrasted with other athletic-wear names in the final session, with Deckers Outdoor down 1.3% and Under Armour shares falling more than 2%, according to MarketWatch.
Before the next U.S. trading session on Friday, investors will watch a run of economic releases that can sway expectations for consumer spending. The Labor Department’s schedule shows the December jobs report due on Jan. 9 and December CPI inflation due on Jan. 13.
Rate expectations remain a key cross-current for consumer discretionary stocks, including Nike. The Federal Reserve has penciled in its next policy meeting for Jan. 27-28.
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