GoKawiilRegulatory filings show that Tim Cook has once again increased his stake in Nike, bringing his holdings to 130,480 shares. Here are the details.
Tim Cook ups his stake on Nike
Last December, Nike’s investor website revealed that Tim Cook had acquired 50,000 shares at an average price of $58.97 each, bringing his total stake to 105,480 shares.
Cook, a longtime Nike board member and customer, made the acquisition at a time when confidence in the company’s CEO was taking a hit due to poor sales. In the days before the acquisition, Nike shares had dipped more than 10% following disappointing quarterly results.
His purchase was widely seen as a public vote of confidence that helped lift Nike shares and briefly reverse the stock’s slide. That rebound, however, wouldn’t last: Nike has since fallen more than 20%, sending the stock back to roughly where it was about a decade ago.
Now, a new regulatory filing shows that Cook has acquired an additional 25,000 shares at an average price of $42.43, bringing his total Nike holdings to about 130,480 shares.
In practice, that corresponds to just 0.009% of Nike’s 1.48 billion outstanding shares. Still, it marks a renewed vote of confidence from Cook, signaling to the market that he remains optimistic about Nike’s future.
Since the regulatory document was issued after the bell on Tuesday, Nike’s stock saw a roughly 2% bump, though today’s performance seems to be trending downward once again.
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