ON (NYSE:ONON) CEO Sells $140,892.50 in Stock

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $33.95, for a total transaction of $140,892.50. Following the completion of the transaction, the chief executive officer owned 1,393,399 shares in the company, valued at approximately $47,305,896.05. This represents a 0.30% decrease 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Hoffmann also recently made the following trade(s):

• On Monday, April 6th, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $33.58, for a total transaction of $139,357.00.
• On Monday, March 23rd, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $39.79, for a total transaction of $165,128.50.

ON Trading Up 4.0%

Shares of NYSE:ONON opened at $35.57 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. The stock has a market cap of $22.70 billion, a PE ratio of 49.40, a P/E/G ratio of 0.69 and a beta of 2.23. The business has a 50 day moving average of $40.41 and a 200-day moving average of $42.76. On Holding AG has a 12-month low of $31.41 and a 12-month high of $61.29.

Hedge Funds Weigh In On ON

Large investors have recently added to or reduced their stakes in the business. J. Derek Lewis & Associates Inc. acquired a new position in ON during the 4th quarter valued at about $212,000. Rockefeller Capital Management L.P. raised its stake in shares of ON by 117.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 118,661 shares of the company’s stock worth $5,515,000 after purchasing an additional 64,138 shares during the last quarter. World Investment Advisors bought a new position in shares of ON in the fourth quarter valued at approximately $207,000. PeakShares LLC purchased a new position in shares of ON during the fourth quarter valued at approximately $564,000. Finally, SHP Wealth Management purchased a new position in shares of ON during the fourth quarter valued at approximately $333,000. Institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Guggenheim cut their price target on shares of ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and decreased their price target for the company from $55.00 to $47.00 in a research note on Thursday, January 8th. Finally, Barclays decreased their target price on ON from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.62.

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.