Insider Buying: ON (NYSE:ONON) CEO Acquires $1,993,550.00 in Stock

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti bought 65,000 shares of ON stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the chief executive officer owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ON Stock Up 0.7%

ONON stock opened at $31.25 on Thursday. The stock has a market capitalization of $19.94 billion, a P/E ratio of 21.26, a P/E/G ratio of 0.62 and a beta of 2.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. On Holding AG has a 1-year low of $30.11 and a 1-year high of $51.08. The business has a fifty day moving average price of $36.42 and a 200-day moving average price of $38.20.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. Equities analysts forecast that On Holding AG will post 1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ONON. Sanford C. Bernstein reissued an “outperform” rating and set a $62.00 price objective on shares of ON in a report on Wednesday, August 12th. UBS Group decreased their target price on shares of ON from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. JPMorgan Chase & Co. initiated coverage on ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price target on the stock. Raymond James Financial downgraded ON from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $52.00 to $38.00 in a research note on Wednesday, August 12th. Finally, Telsey Advisory Group cut their price objective on ON from $51.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.57.

Institutional Investors Weigh In On ON

A number of institutional investors have recently bought and sold shares of the business. Platinum Paramount Investment LTD. purchased a new position in ON during the fourth quarter valued at $525,784,000. Sinvest Investments II Ltd. purchased a new stake in ON in the 4th quarter worth $390,432,000. Morgan Stanley lifted its stake in ON by 40.9% in 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 in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of ON during the 4th quarter valued at about $142,425,000. Finally, Norges Bank bought a new position in shares of ON during the 4th quarter valued at about $128,826,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.