Nike Stock Jumps As Insider Bets Ignite Investor Confidence

Nike Inc (NYSE:NKE) shares are trading higher on Wednesday following continued insider buying. Nike shares are climbing with conviction. Why are NKE shares rallying? Elliott Hill Joins Tim Cook In Buying Nike Stock Nike shares are getting a boost after CEO Elliott Hill revealed in a Form 4 filing that he purchased 16,388 Nike shares on Dec. 29 in multiple transactions at an average price of $61.10 per share. Hill spent just over $1 million buying Nike stock this week, bringing his total holdings up to 241,587 shares. The news comes after Apple Inc (NASDAQ:AAPL) CEO and Nike board member Tim Cook disclosed in a regulatory filing last week that he purchased 50,000 shares of Nike at an average price of $58.97, increasing his total stake to approximately $6 million. The purchase on Dec. 22 nearly doubled Cook’s Nike holdings. The Apple chief has been on the board of Nike since 2005. Nike’s Bearish Trend: Technical Indicators Nike stock is currently trading 2.5% below its 20-day simple moving average (SMA) and 8.1% below its 100-day SMA, indicating a bearish trend in the short to medium term. Shares have decreased by 19.14% over the past 12 months and are currently positioned closer to their 52-week lows than highs. The RSI is at 43.59, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. Key support is at $59.50, while resistance is at $66.50. Traders should monitor these levels closely as they may dictate future price movements. Analysts Anticipate Lower Earnings Investors are looking ahead to the company’s next earnings report, scheduled for March 2026, with analysts expecting earnings per share of 32 cents and revenue of $11.24 billion, slightly lower than the previous year’s results. Nike has a consensus Buy rating among analysts, with an average price target of $77.65. It’s currently trading with a P/E ratio of 35.8, indicating it is overvalued relative to its peers. Nike Stock Rises In Early Trading NKE Price Action: Nike shares were up 2.86% at $62.94 at the time of publication on Wednesday, according to Benzinga Pro. Read Next: Tim Cook’s Nike Buy, AI Smart Glasses, Court Victory And More: This Week In Appleverse Image: Shutterstock.com