ON (NYSE:ONON) CEO David Michael Allemann Purchases 60,000 Shares

On Holding AG (NYSE:ONON) CEO David Michael Allemann acquired 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

ON Price Performance

Shares of NYSE ONON opened at $36.76 on Friday. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $61.29. The company has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $41.83. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 0.72 and a beta of 2.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.13 and a current ratio of 2.98.

Wall Street Analyst Weigh In

ONON has been the subject of a number of analyst reports. Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a research note on Tuesday, March 3rd. Guggenheim restated a “buy” rating and set a $51.00 price target on shares of ON in a report on Wednesday. KeyCorp lowered their price target on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Telsey Advisory Group dropped their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Hedge Funds Weigh In On ON

A number of hedge funds have recently bought and sold shares of the business. Caitlin John LLC bought a new position in ON during the 4th quarter valued at about $25,000. Cullen Frost Bankers Inc. grew its stake in shares of 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 acquiring an additional 467 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after purchasing an additional 421 shares during the period. Hedge funds and other 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.