Guggenheim reaffirmed their buy rating on shares of ON (NYSE:ONON – Free Report) in a research report report published on Wednesday,Benzinga reports. They currently have a $51.00 target price on the stock.
Several other research firms have also recently commented on ONON. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Tuesday, April 21st. Barclays lowered their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday. Needham & Company LLC lowered their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Evercore set a $42.00 target price on shares of ON in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ON has an average rating of “Moderate Buy” and an average target price of $55.05.
Read Our Latest Stock Report on ONON
ON Stock Up 1.0%
Insider Activity at ON
In related news, CEO David Michael Allemann acquired 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Bernhard acquired 60,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. Company insiders own 68.57% of the company’s stock.
Institutional Trading of ON
Several institutional investors have recently made changes to their positions in ONON. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after purchasing an additional 62,500 shares during the period. Great Point Wealth Advisors LLC purchased a new stake in ON during the 3rd quarter worth $1,607,000. Robinhood Asset Management LLC purchased a new stake in ON during the 4th quarter worth $4,747,000. Sands Capital Management LLC boosted its position in ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after purchasing an additional 2,155,083 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in ON by 34.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 680,646 shares of the company’s stock worth $28,825,000 after purchasing an additional 175,255 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.
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.
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