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

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $33.95, for a total value of $140,892.50. Following the transaction, the chief executive officer directly owned 1,393,399 shares of the company’s stock, valued at approximately $47,305,896.05. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal 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, April 6th, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $33.58, for a total value of $139,357.00.
• On Monday, March 23rd, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $39.79, for a total value of $165,128.50.

ON Price Performance

Shares of ON stock opened at $35.42 on Thursday. The stock has a 50 day moving average of $40.24 and a 200 day moving average of $42.71. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29. The firm has a market cap of $22.60 billion, a PE ratio of 49.20, a PEG ratio of 0.71 and a beta of 2.23. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On ON

Several institutional investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. bought a new stake in shares of ON in the 4th quarter valued at approximately $212,000. Rockefeller Capital Management L.P. lifted its stake in shares of ON by 117.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 118,661 shares of the company’s stock valued at $5,515,000 after purchasing an additional 64,138 shares during the last quarter. World Investment Advisors bought a new stake in shares of ON in the 4th quarter valued at approximately $207,000. PeakShares LLC purchased a new stake in shares of ON in the fourth quarter worth approximately $564,000. Finally, SHP Wealth Management purchased a new stake in shares of ON in the fourth quarter worth approximately $333,000. 36.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of research reports. Telsey Advisory Group dropped their price target on ON from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of ON in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Barclays lowered their price objective on ON from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus set a $58.00 price objective on ON in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.62.

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.