ON (NYSE:ONON) Insider Olivier Bernhard Acquires 60,000 Shares

On Holding AG (NYSE:ONON) insider Olivier Bernhard purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider directly owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ON Stock Up 1.0%

ONON stock opened at $37.21 on Friday. The company’s 50 day simple moving average is $36.24 and its 200-day simple moving average is $41.79. The firm has a market capitalization of $23.75 billion, a PE ratio of 40.01, a P/E/G ratio of 0.74 and a beta of 2.09. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.13.

Analysts Set New Price Targets

A number of analysts recently issued reports on ONON shares. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday. Truist Financial decreased their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday. BTIG Research restated a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, March 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Finally, KeyCorp decreased their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

Hedge Funds Weigh In On ON

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock valued at $8,320,000 after purchasing an additional 62,500 shares during the last quarter. Great Point Wealth Advisors LLC acquired a new position in shares of ON in the 3rd quarter valued at $1,607,000. Robinhood Asset Management LLC acquired a new position in shares of ON in the 4th quarter valued at $4,747,000. Sands Capital Management LLC boosted its holdings in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after purchasing an additional 2,155,083 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of ON by 34.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 680,646 shares of the company’s stock valued at $28,825,000 after purchasing an additional 175,255 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.