ON (NYSE:ONON) Shares Unloaded Sen. Angus S. King Jr.

Senator Angus S. King Jr. (Independent-Maine) recently sold shares of On Holding AG (NYSE:ONON). In a filing disclosed on March 24th, the Senator disclosed that they had sold between $1,001 and $15,000 in ON stock on February 13th.

Senator Angus S. King Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Eli Lilly and Company (NYSE:LLY) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Autodesk (NASDAQ:ADSK) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 2/13/2026.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 2/13/2026.
• Purchased $1,001 – $15,000 in shares of Eli Lilly and Company (NYSE:LLY) on 12/29/2025.
• Purchased $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 12/29/2025.

ON Stock Performance

ONON opened at $35.26 on Thursday. The firm has a market cap of $22.50 billion, a P/E ratio of 48.97, a price-to-earnings-growth ratio of 0.79 and a beta of 2.14. The business’s fifty day moving average is $43.76 and its 200-day moving average is $43.81. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71.

Key Headlines Impacting ON

Here are the key news stories impacting ON this week:

• Positive Sentiment: Co‑founders David Allemann and Caspar Coppetti were named co‑CEOs, a move framed as a planned leadership transition that could preserve brand strategy and continuity. Read More.
• Positive Sentiment: Despite the turmoil, some sell‑side support remains: Telsey Advisory trimmed its price target but kept an Outperform rating, signaling continued longer‑term upside among some analysts. Read More.
• Neutral Sentiment: Consensus remains mixed-to-positive: the street average is roughly a “moderate buy” with a wide range of targets, so analyst views could cushion or amplify moves depending on updates. Read More.
• Neutral Sentiment: ON has been a trending, closely watched stock; higher attention increases intraday volatility and can exaggerate directional moves. Read More.
• Negative Sentiment: Longtime CEO Martin Hoffmann stepped down (he will remain as an advisor through 2027); investors saw the leadership change as a risk to near‑term execution amid already slowing growth. Read More.
• Negative Sentiment: Insider sale: Hoffmann sold ~4,150 shares last week (small vs. his total holding) but the timing around the announcement added to negative sentiment. Read More.
• Negative Sentiment: Market reaction: heavy selling and a sharp intraday decline pushed shares toward the lower end of their 12‑month range as traders priced in uncertainty about growth and leadership execution. Read More.

Institutional Investors Weigh In On ON

A number of hedge funds have recently made changes to their positions in the stock. Jacobi Capital Management LLC lifted its stake in ON by 3.6% in the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after purchasing an additional 240 shares during the last quarter. Lido Advisors LLC grew its stake in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after buying an additional 285 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after buying an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of ON by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after buying an additional 285 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its stake in shares of ON by 4.3% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ONON. Truist Financial dropped their target price on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Guggenheim reduced their price target on shares of ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. KeyCorp restated an “overweight” rating on shares of ON in a research report on Wednesday, March 4th. Stifel Nicolaus set a $58.00 target price on ON in a research note on Tuesday, March 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of ON in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.24.

Insider Buying and Selling at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.79, for a total transaction of $165,128.50. Following the sale, the chief executive officer owned 1,357,020 shares of the company’s stock, valued at $53,995,825.80. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 68.57% of the stock is currently owned by company insiders.

About Senator King

Angus King (independent) is a member of the U.S. Senate from Maine. He assumed office on January 3, 2013. His current term ends on January 3, 2031.

King (independent) ran for re-election to the U.S. Senate to represent Maine. He won in the general election on November 5, 2024.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.