ON (NYSE:ONON) CFO Frank Sluis Sells 687 Shares

On Holding AG (NYSE:ONON) CFO Frank Sluis sold 687 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $27.74, for a total transaction of $19,057.38. Following the transaction, the chief financial officer directly owned 997 shares in the company, valued at $27,656.78. The trade was a 40.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ON Stock Down 1.4%

ON stock opened at $26.88 on Thursday. The firm’s 50 day moving average price is $33.82 and its two-hundred day moving average price is $36.45. 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 Holding AG has a twelve month low of $26.82 and a twelve month high of $51.08. The firm has a market cap of $17.15 billion, a PE ratio of 18.28, a P/E/G ratio of 0.55 and a beta of 2.08.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%.The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted ($0.09) earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts predict that On Holding AG will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ONON shares. Capital One Financial set a $28.00 price target on ON in a research note on Tuesday. Zacks Research downgraded ON from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Barclays cut their price objective on shares of ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. BMO Capital Markets began coverage on shares of ON in a research report on Tuesday. They issued a “market perform” rating and a $28.00 target price for the company. Finally, Evercore set a $40.00 price target on shares of ON in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.78.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Platinum Paramount Investment LTD. bought a new stake in ON during the fourth quarter valued at about $525,784,000. Sinvest Investments II Ltd. acquired a new position in shares of ON during the 4th quarter worth about $390,432,000. Morgan Stanley lifted its position 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. Norges Bank bought a new stake in ON during the 4th quarter valued at approximately $128,826,000. Finally, Ameriprise Financial Inc. grew its holdings in ON by 4,564.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after buying an additional 2,242,480 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.