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, March 23rd. The shares were sold at an average price of $39.79, for a total transaction of $165,128.50. Following the transaction, the chief executive officer directly owned 1,357,020 shares of the company’s stock, valued at $53,995,825.80. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

ON Price Performance

ONON stock opened at $39.56 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The firm has a 50 day moving average price of $43.96 and a 200-day moving average price of $43.87. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. 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 Trading of ON

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after purchasing an additional 6,997,455 shares in the last quarter. Platinum Paramount Investment LTD. bought a new position in shares of ON during the fourth quarter valued at $525,784,000. Sinvest Investments II Ltd. purchased a new stake in shares of ON during the fourth quarter valued at $390,432,000. Sands Capital Management LLC boosted its position in shares of ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after buying an additional 2,155,083 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after buying an additional 658,933 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONON has been the subject of a number of recent research reports. Williams Trading cut ON from a “buy” rating to a “hold” rating and lowered their price objective for the company from $55.00 to $47.00 in a research note on Thursday, January 8th. Barclays reduced their price target on ON from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Friday, December 5th. One research 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.48.

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.