ON (NYSE:ONON) CEO Caspar Felix Coppetti Purchases 60,000 Shares

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 shares were acquired 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 directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ON Price Performance

ONON opened at $36.76 on Friday. The firm has a 50-day moving average price of $36.36 and a 200-day moving average price of $41.83. On Holding AG has a twelve month low of $31.41 and a twelve month high of $61.29. The company has a quick ratio of 2.13, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 0.72 and a beta of 2.09.

Institutional Trading of ON

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bison Wealth LLC grew its position in shares of ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after purchasing an additional 2,442 shares in the last quarter. Prudential Financial Inc. bought a new stake in ON during the second quarter valued at $517,000. Invesco Ltd. grew its position in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after buying an additional 118,498 shares in the last quarter. Cresset Asset Management LLC grew its position in ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock worth $376,000 after buying an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in ON by 91.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after acquiring an additional 1,273 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ONON. Telsey Advisory Group lowered their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial cut their price target on ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC reduced their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Finally, Evercore set a $42.00 price objective on ON in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average price target of $55.05.

About ON

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.