Nike Insiders Buy $2.1 Million in Shares Amidst Revenue Decline and $1.5 Billion Tariff Cost
AP
Atlas Pendleton
dividend cut announcement · Apr 16, 2026
Source: DojiDoji Data Terminal
Nike shares trade near multi-year lows. This follows a 35% drop in net income to $520 million and flat revenue of $11.3 billion. Nike CEO Elliott Hill and director Tim Cook each purchased roughly $1 million in Nike stock in mid-April. Hill acquired 23,660 shares at $42.27 per share on April 13, while Cook bought 25,000 shares at $42.43 per share on April 10.
These open-market purchases totaling $2.1 million signal insider confidence in the valuation. However, the company's gross margin contracted 130 basis points to 40.2%. This contraction was driven by a 300-basis-point hit to North American gross margins from new and higher tariffs. Nike now faces an estimated $1.5 billion in annualized incremental product costs from trade levies.
Revenue in Greater China fell 7% in the quarter. Management expects low-single-digit revenue declines to continue through the rest of of fiscal 2026. Analysts from HSBC and Piper Sandler have downgraded the stock to hold or neutral. Nike shares trade near multi-year lows.
