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Nike Picked Stock of the Week at Smart Insider Following Renewed Insider Buying
Nike (NKE) was named Smart Insider's stock pick of the week after insider purchases resumed following a recent decline in the share price.Smart Insider said it previously ranked the stock +1 on Dec. 24 after a $3 million share purchase by Lead Independent Director Timothy Cook at $59 per share, alongside $500,000 purchases each from directors Robert Swan and Jorgen Knudstorp.Chief Executive Elliott Hill also spent $1 million in December following the upgrade, according to Smart Insider.After reporting Q3 results on March 31, the stock has fallen about 25% since December, Smart Insider said, adding that insiders responded with additional purchases totaling about $2.7 million between April 7 and April 13 at around $43 per share.John Rogers, a director since 2018, bought $173,000 of shares in his first purchase since December 2024, according to the report. Hill acquired another $1 million of stock, Cook added $1.1 million to his holdings, and Swan purchased $500,000 of shares, Smart Insider said.Smart Insider said that while the December buying was not timely, the recent cluster of purchases is encouraging.Smart Insider renewed its +1 rating on the stock, indicating a strong positive signal.Price: $46.93, Change: $+0.45, Percent Change: +0.97%
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