Key Points
- CEO Martin Hoffmann sold 4,150 shares of On (NYSE:ONON) on March 23 at an average price of $39.79 for $165,128.50, trimming his stake by 0.30% to 1,357,020 shares as disclosed in an SEC Form 4.
- The stock fell roughly 10.9% after a leadership shakeup—Hoffmann moved to an advisor role and co‑founders were named co‑CEOs—prompting heavy trading and pushing shares toward their 52‑week low.
- Despite the near‑term sell‑off, analysts remain cautiously positive with a consensus rating of “Moderate Buy” and an average price target of about $59.24, indicating perceived longer‑term upside.
On Holding AG (NYSE:ONON - Get Free Report) CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.79, for a total value of $165,128.50. Following the completion of the transaction, the chief executive officer owned 1,357,020 shares in the company, valued at $53,995,825.80. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
ON Trading Down 10.9%
NYSE:ONON opened at $35.26 on Thursday. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.29. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock's 50 day simple moving average is $43.76 and its 200-day simple moving average is $43.81. The firm has a market cap of $22.50 billion, a P/E ratio of 48.97, a PEG ratio of 0.79 and a beta of 2.14.
ON News Roundup
Here are the key news stories impacting ON this week:
- Positive Sentiment: Co‑founders named co‑CEOs, which could preserve strategy and brand continuity; the company positioned the change as a planned leadership transition. BusinessWire announcement
- Positive Sentiment: Some sell‑side support remains: Telsey Advisory trimmed its price target (from $65 to $60) but kept an Outperform rating, signaling analysts still see upside over time. Benzinga
- Neutral Sentiment: Analyst consensus is roughly in the “moderate buy” area, indicating institutional views are mixed but not uniformly negative. Analyst roundup
- Neutral Sentiment: On has been a trending/closely watched name recently; increased attention can amplify intraday moves and volatility. Zacks trending note
- Negative Sentiment: Longtime CEO Martin Hoffmann stepped down (to an advisor role through 2027), a leadership change that spooked investors and undercut confidence in near‑term execution amid slowing growth. CNBC
- Negative Sentiment: Insider sale: Hoffmann sold ~4,150 shares last week; while small relative to his holding, the timing around the announcement likely amplified negative sentiment. SEC filing
- Negative Sentiment: Market reaction: heavy trading and large intraday selling pushed the share price toward its 52‑week low, reflecting short‑term risk aversion around execution and leadership continuity. Zacks market note
Institutional Investors Weigh In On ON
A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. J. Derek Lewis & Associates Inc. acquired a new position in shares of ON during the 4th quarter worth $212,000. Rockefeller Capital Management L.P. lifted its stake in shares of ON by 117.6% in the fourth 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 period. World Investment Advisors acquired a new stake in shares of ON in the fourth quarter valued at about $207,000. PeakShares LLC purchased a new stake in ON during the fourth quarter worth about $564,000. Finally, SHP Wealth Management purchased a new stake in ON during the fourth quarter worth about $333,000. Institutional investors and hedge funds own 36.39% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on ONON. Zacks Research downgraded shares of ON from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 11th. BTIG Research reaffirmed a "buy" rating and issued a $70.00 target price on shares of ON in a report on Tuesday, March 3rd. Needham & Company LLC reiterated a "buy" rating and set a $52.00 price target on shares of ON in a research note on Thursday, February 26th. Guggenheim cut their price target on shares of ON from $59.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, Evercore set a $58.00 price objective on shares of ON and gave the company an "outperform" rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.24.
Get Our Latest Analysis on ON
About ON
(
Get Free Report)
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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