Nike’s shares got a boost on Tuesday in after-hours trading after regulatory filings showed that the company’s CEO Elliott Hill and Apple CEO Tim Cook purchased a combined $2.1 million in stock.
Cook purchased 25,000 shares of Nike Class B stock at an average price of $42.43 and Hill bought 20,366 shares at $42.27.
Meanwhile, Nike board director and founder of Ariel Capital Management, John W. Rogers also increased his stake in the sportswear maker with a 4,000 share buy at $173,360 which pushed his total to 41,022 after the sale — a $2.1 million transaction for Cook, Hill and Rogers.
The stock rose 2 percent to around $45 on the on news after hours following a 3 percent jump on Tuesday during regular trading that pushed it to $44.20.
It’s a move that could signal investor confidence in the brand since three of its prominent insiders have seemingly doubled down on Nike’s ongoing turnaround effort.
The company released its third quarter earnings report on March 31 that beat analysts estimates despite a 35 percent drop to $520 million in revenue from $794 million at the same period in the previous year. Net sales in the quarter were $11.3 billion and mirrored a similar total from 2025 at around $11.3 billion.
The report also indicated that the brand’s struggles in China are continuing, while the Converse division saw a massive 35 percent dip on $264 million in revenue with struggling performance in all regions.
But Hill also noted after the report was released that the battled to pull Nike into an ideal position is taking longer than planned as part of his “Win Now” strategy that he implemented in December 2024 after taking over as CEO.
“This quarter we took meaningful actions to improve the health and quality of our business,” Hill said in the report. “The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum. “The work is not finished, but the direction is clear, our teams are moving with focus and urgency, and our foundation is getting even stronger to build the future of Nike.”
Cook has been on Nike’s board since 2005 and is the company’s lead independent director. He bought $3 million in stock in December to double his stake at the time to around 105,000 shares, while Hill purchased $1 million in stock to up his tally to 241,587 shares at the close of 2025.
