ON (NYSE:ONON) CEO Purchases $2,198,400.00 in Stock

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. The trade was a 2.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

ON Trading Up 3.9%

Shares of ON stock opened at $36.76 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.13. On Holding AG has a 1 year low of $31.41 and a 1 year high of $61.29. The firm has a market cap of $23.46 billion, a PE ratio of 39.53, a PEG ratio of 0.72 and a beta of 2.09. The company has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $41.83.

Analyst Upgrades and Downgrades

ONON has been the subject of several research reports. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research report on Thursday, April 23rd. Telsey Advisory Group lowered their price target on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday. Evercore set a $42.00 price target on ON in a research note on Tuesday. Truist Financial cut their price objective on ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and set a $51.00 price objective on shares of ON in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC bought a new stake in ON in the fourth quarter worth $25,000. Cullen Frost Bankers Inc. grew its stake in shares of ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after acquiring an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after acquiring an additional 421 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

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.