ON (NYSE:ONON) CEO Sells $165,128.50 in Stock

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.79, for a total value of $165,128.50. Following the completion of the sale, the chief executive officer directly owned 1,357,020 shares in the company, valued at $53,995,825.80. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ON Trading Down 0.8%

ONON opened at $39.56 on Wednesday. On Holding AG has a one year low of $34.38 and a one year high of $61.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The business has a 50 day simple moving average of $43.96 and a two-hundred day simple moving average of $43.87. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 54.94, a PEG ratio of 0.79 and a beta of 2.14.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its position in ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares during the period. Lido Advisors LLC grew its position in shares of ON by 1.2% in the 2nd 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 period. Parallel Advisors LLC increased its stake in shares of ON by 2.8% in the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after acquiring an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of ON by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after acquiring an additional 285 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in ON by 4.3% during 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 period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ONON. BTIG Research restated a “buy” rating and set a $70.00 target price on shares of ON in a report on Tuesday, March 3rd. Barclays reduced their price objective on shares of ON from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. 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. Finally, Stifel Nicolaus set a $58.00 target price on shares of ON in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.48.

About ON

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.