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

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ON Stock Down 0.1%

ONON stock opened at $37.21 on Monday. On Holding AG has a 12-month low of $31.41 and a 12-month high of $61.29. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 0.75 and a beta of 2.09. The company has a 50 day moving average of $36.24 and a two-hundred day moving average of $41.79.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ONON. Platinum Paramount Investment LTD. acquired a new position in shares of ON during the 4th quarter worth $525,784,000. Sinvest Investments II Ltd. acquired a new position in shares of ON during the 4th quarter worth $390,432,000. Morgan Stanley increased its stake in shares of ON by 40.9% during 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 during the last quarter. FengHe Fund Management Pte. Ltd. acquired a new position in shares of ON during the 4th quarter worth $142,425,000. Finally, Norges Bank acquired a new position in ON in the 4th quarter valued at $128,826,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ONON. 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 cut their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC cut their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. KeyCorp dropped their price target on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

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.