When the CEO of one of the world's most valuable companies starts doubling down on a struggling stock, people pay attention. Apple CEO Tim Cook has been a Nike (NKE) board member since 2005. He knows the “Swoosh” better than most outsiders ever could. So when Cook quietly made another big purchase of NKE shares, it sent a clear message to Wall Street: the turnaround is real, and the bottom may be near.
The question is whether ordinary investors should follow suit—or wait for clearer skies.
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www.barchart.com Tim Cook Raises Stake in Nike Stock
On April 10, Cook picked up 25,000 shares of Nike at roughly $42.43 each, according to a Securities and Exchange Commission filing. That's approximately $1.06 million out of his own pocket.
According to a report from Apple Insider back in December 2025, Cook spent nearly $2.95 million to buy 50,000 shares at $58.97 apiece. He now holds 130,480 shares of Nike, worth about $5.7 million based on recent closing prices. Nike CEO Elliott Hill also purchased $1 million in NKE stock this week.
Investors typically view insider buying as a strong vote of confidence, making Nike even more attractive to value and contrarian investors in April 2026.
Can Nike Stock Stage a Turnaround?
Nike recently posted its fiscal third-quarter 2026 results (ended in February).
It reported revenue of $11.3 billion, flat compared to the year-ago period. Net income fell 35% to $520 million, or $0.35 per share. Comparatively, Wall Street forecast revenue at $11.2 billion with EPS of $0.28.Nike beat fiscal Q3 estimates, but the stock still tanked. Valued at a market cap of $67 billion, shares of the footwear giant are down over 70% from all-time highs. Investors are worried about slowing sales in China as revenue fell 10%. Sales in the EMEA (Europe, Middle East, and Africa) region also fell 7%, driven by weak sportswear demand and heavy discounting across the region.
During the earnings call, Hill compared Nike's current state to Camp Nou, FC Barcelona's stadium, which is undergoing a massive rebuild while the team still plays every week.
"We are removing what is not working," Hill said. "We are rebuilding parts of the foundation that needed to be rebuilt."
North America is the bright spot, where revenue rose 3% in fiscal Q3, while wholesale revenue grew 11%. February marked the first time in two years that Nike saw positive growth across all channels in the region simultaneously.
Management expects to finish its "Win Now" recovery actions by the end of calendar year 2026 and has promised to hold an Investor Day at its Beaverton, Oregon campus in the fall to lay out a longer-term roadmap.
What's Next for NKE Stock?
Cook's latest purchase came after Nike's stock had already lost significant value since his December buy, meaning he's currently sitting on a paper loss from that earlier trade. Cook’s decision to buy more anyway suggests he believes the stock is oversold, not broken.
The fundamentals back up a cautious form of optimism, while innovation is picking up, with new platforms like Nike Mind selling out globally. The balance sheet isn't on fire. And the company expects gross margin expansion to begin in the second quarter of fiscal 2027.
But real risks remain. Greater China is expected to decline roughly 20% in the fourth quarter, while EMEA is navigating a tough promotional environment. Moreover, sportswear, which accounts for a massive share of revenue, is still in cleanup mode.
Analysts tracking NKE stock forecast adjusted earnings to expand from $1.49 per share in fiscal 2026 to $3.90 per share in fiscal 2031. Today, the stock trades at a forward price-to-earnings multiple of 27.8x, below its 10-year average of 31x. Even if the multiple compresses to 20x, NKE could surge 73% over the next four years. If we account for its dividend yield of 4%, cumulative returns could be closer to 95%.
Out of the 35 analysts covering NKE stock, 14 recommend “Strong Buy,” two recommend “Moderate Buy,” 17 recommend “Hold,” and two recommend “Strong Sell.” The average Nike stock price target is $61.51, above the current price of about $45.
For investors with a long-term horizon, Nike's wave of insider buying, combined with tangible early-stage progress, may make this a compelling entry point. For those looking for a short-term win, the road ahead still has plenty of bumps.
www.barchart.com On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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