ON (NYSE:ONON) CEO Buys $2,197,800.00 in Stock

On Holding AG (NYSE:ONON) CEO David Michael Allemann acquired 60,000 shares of the stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ON Trading Down 0.1%

ONON opened at $37.21 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $23.75 billion, a PE ratio of 40.01, a PEG ratio of 0.75 and a beta of 2.09. On Holding AG has a 1-year low of $31.41 and a 1-year high of $61.29. The firm has a 50-day moving average price of $36.24 and a two-hundred day moving average price of $41.79.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. KeyCorp lowered their price target on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Telsey Advisory Group lowered their price target 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. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Finally, Stifel Nicolaus set a $58.00 price target on shares of ON in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Institutional Investors Weigh In On ON

Several institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP grew its position in shares of ON by 89.6% during the 1st quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock worth $2,278,000 after buying an additional 31,641 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in ON during the first quarter valued at approximately $5,694,000. Lombard Odier Asset Management Europe Ltd acquired a new position in ON during the first quarter valued at approximately $1,998,000. State of Wyoming grew its holdings in ON by 132.6% during the first quarter. State of Wyoming now owns 4,508 shares of the company’s stock valued at $153,000 after purchasing an additional 2,570 shares during the period. Finally, Cetera Investment Advisers grew its holdings in ON by 2.8% during the first quarter. Cetera Investment Advisers now owns 57,437 shares of the company’s stock valued at $1,954,000 after purchasing an additional 1,557 shares during the period. Institutional investors and hedge funds 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.