ON (NYSE:ONON) CEO Sells $148,736.00 in Stock

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 20th, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $36.56, for a total value of $151,724.00.
• On Monday, April 13th, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $33.95, for a total value of $140,892.50.
• On Monday, April 6th, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $33.58, for a total value of $139,357.00.
• On Monday, March 23rd, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $39.79, for a total value of $165,128.50.

ON Stock Performance

NYSE:ONON opened at $35.62 on Friday. The stock has a market cap of $22.73 billion, a P/E ratio of 49.47, a price-to-earnings-growth ratio of 0.71 and a beta of 2.23. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $38.23 and its 200-day moving average is $42.22. On Holding AG has a 1-year low of $31.41 and a 1-year high of $61.29.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Guggenheim reduced their price target on ON from $59.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Thursday, April 23rd. Williams Trading cut ON from a “buy” rating to a “hold” rating and reduced their price target for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of ON in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently modified their holdings of the business. Caitlin John LLC bought a new position in shares of ON during the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. boosted its holdings in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after buying an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

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.