ON (NYSE:ONON) Insider Acquires 65,000 Shares

On Holding AG (NYSE:ONON) insider Olivier Bernhard purchased 65,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the purchase, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ON Stock Up 0.0%

ONON stock opened at $32.23 on Monday. On Holding AG has a one year low of $30.11 and a one year high of $51.08. The stock has a market capitalization of $20.57 billion, a P/E ratio of 21.93, a PEG ratio of 0.64 and a beta of 2.12. The company has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $38.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its position in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in ON in the 4th quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd grew its position in 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 purchasing an additional 594 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their target price on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Raymond James Financial lowered ON from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $52.00 to $38.00 in a research report on Wednesday, August 12th. Williams Trading set a $32.00 price objective on ON in a report on Tuesday, August 11th. Evercore set a $40.00 price objective on shares of ON in a research report on Wednesday. Finally, Truist Financial lowered their price target on shares of ON from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

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.