Martin Hoffmann Sells 4,150 Shares of ON (NYSE:ONON) Stock

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $33.58, for a total transaction of $139,357.00. Following the completion of the transaction, the chief executive officer owned 1,397,549 shares of the company’s stock, valued at $46,929,695.42. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $165,128.50.

ON Stock Down 4.1%

ON stock traded down $1.38 during trading hours on Tuesday, reaching $32.29. The stock had a trading volume of 15,862,746 shares, compared to its average volume of 6,300,634. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 0.66 and a beta of 2.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The business’s 50 day moving average price is $41.48 and its 200-day moving average price is $43.12. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29.

Hedge Funds Weigh In On ON

Several hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC increased its holdings in shares of ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after acquiring an additional 240 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after acquiring an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of ON by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after acquiring an additional 285 shares in the last quarter. Parsons Capital Management Inc. RI increased its holdings in shares of ON by 4.3% during the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of ON by 2.2% during the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

ONON has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, March 3rd. Truist Financial reduced their target price on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Barclays reduced their target price on shares of ON from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Finally, Evercore set a $58.00 target price on shares of ON and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.24.

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.