ON Target of Unusually High Options Trading (NYSE:ONON)

Posted by Geri Gentry on Sep 11th, 2026

On Holding AG (NYSE:ONON – Get Free Report) was the target of unusually large options trading activity on Friday. Investors purchased 37,645 call options on the company. This is an increase of approximately 175% compared to the typical daily volume of 13,669 call options.

ON Trading Up 2.3%

Shares of ON stock traded up $0.62 during trading hours on Friday, hitting $27.48. The company’s stock had a trading volume of 5,126,623 shares, compared to its average volume of 6,282,527. ON has a 12 month low of $26.60 and a 12 month high of $51.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market capitalization of $17.53 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 0.54 and a beta of 2.08. The stock has a 50 day moving average of $33.62 and a 200 day moving average of $36.29.

ON (NYSE:ONON – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.ON’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts predict that ON will post 1.47 earnings per share for the current year.

Insider Activity at ON

In other news, CEO Caspar Coppetti acquired 65,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the chief executive officer owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Olivier Bernhard bought 65,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 68.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently made changes to their positions in ONON. Platinum Paramount Investment LTD. bought a new stake in ON in the 4th quarter valued at $525,784,000. Sinvest Investments II Ltd. bought a new position in ON during the 4th quarter worth about $390,432,000. Morgan Stanley increased its holdings in ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after purchasing an additional 6,997,455 shares in the last quarter. Norges Bank bought a new stake in shares of ON in the fourth quarter valued at about $128,826,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of ON by 4,564.3% in the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after purchasing an additional 2,242,480 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Raymond James Financial downgraded ON from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $52.00 to $38.00 in a research report on Wednesday, August 12th. JPMorgan Chase & Co. began coverage on shares of ON in a research report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 target price on the stock. Bank of America reiterated a “buy” rating on shares of ON in a research report on Wednesday, August 12th. Telsey Advisory Group cut their price objective on shares of ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Finally, Robert W. Baird dropped their target price on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.04.

View Our Latest Analysis on ONON

ON Company Profile

(Get Free Report)

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.