ON (NYSE:ONON) CEO Martin Hoffmann Sells 4,150 Shares

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $33.58, for a total transaction of $139,357.00. Following the transaction, the chief executive officer directly owned 1,397,549 shares in the company, valued at approximately $46,929,695.42. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Hoffmann also recently made the following trade(s):

• On Monday, March 23rd, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $39.79, for a total transaction of $165,128.50.

ON Stock Performance

Shares of ONON stock opened at $32.29 on Wednesday. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 0.66 and a beta of 2.23. The company’s 50 day moving average is $41.48 and its 200 day moving average is $43.12. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. On Holding AG has a 52-week low of $31.41 and a 52-week high of $61.29.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of ONON. Cullen Frost Bankers Inc. grew its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the last quarter. Caitlin John LLC purchased a new position in ON in the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its holdings in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONON. Stifel Nicolaus set a $58.00 price objective on shares of ON in a report on Tuesday, March 3rd. Evercore set a $58.00 price objective on shares of ON and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Telsey Advisory Group cut their price objective on shares of ON from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Truist Financial cut their price objective on shares of ON from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, KeyCorp reissued an “overweight” rating on shares of ON in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.24.

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.