Frank Sluis Sells 687 Shares of ON (NYSE:ONON) Stock

On Holding AG (NYSE:ONON) CFO Frank Sluis sold 687 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $27.74, for a total transaction of $19,057.38. Following the completion of the transaction, the chief financial officer directly owned 997 shares in the company, valued at $27,656.78. This trade represents a 40.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

ON Price Performance

Shares of NYSE:ONON opened at $26.83 on Friday. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 0.54 and a beta of 2.08. The firm has a fifty day moving average price of $33.62 and a 200 day moving average price of $36.29. On Holding AG has a fifty-two week low of $26.60 and a fifty-two week high of $51.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts expect that On Holding AG will post 1.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on ONON shares. Truist Financial reduced their price objective on ON from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of ON from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. The Goldman Sachs Group set a $42.00 price target on shares of ON in a research report on Wednesday, August 12th. Morgan Stanley began coverage on shares of ON in a research note on Thursday. They set an “overweight” rating and a $39.00 price target on the stock. Finally, Zacks Research lowered shares of ON from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.43.

Institutional Trading of ON

A number of institutional investors have recently bought and sold shares of ONON. Jacobi Capital Management LLC increased its holdings in shares of 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 acquiring an additional 240 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in 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 purchasing an additional 285 shares in the last quarter. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 285 shares in the last quarter. MetLife Investment Management LLC grew its position in ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after purchasing an additional 308 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

About ON

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.