Key Points
- Insider buying: On Holding AG insider Olivier Bernhard bought 60,000 shares on May 14 at an average price of $36.63, a transaction worth about $2.2 million. After the purchase, he owned 5.16 million shares, increasing his stake by 1.18%.
- Stock trading levels: ONON opened at $37.21, above its 50-day moving average of $36.24 but below its 200-day moving average of $41.79. The stock has traded between a 52-week low of $31.41 and a high of $61.29.
- Analyst sentiment remains positive: Wall Street analysts currently have a Moderate Buy consensus on ON, with an average price target of $55.05. Recent calls included buy ratings from several firms, though some targets were trimmed and one analyst downgraded the stock to Hold.
On Holding AG (NYSE:ONON - Get Free Report) insider Olivier Bernhard purchased 60,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
ON Stock Performance
Shares of ONON stock opened at $37.21 on Friday. The company's fifty day simple moving average is $36.24 and its 200-day simple moving average is $41.79. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The company has a current ratio of 2.98, a quick ratio of 2.13 and a debt-to-equity ratio of 0.26. The company has a market cap of $23.75 billion, a PE ratio of 40.01, a P/E/G ratio of 0.74 and a beta of 2.09.
Institutional Investors Weigh In On ON
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its stake in ON by 3.6% during the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company's stock worth $320,000 after buying an additional 240 shares during the period. Parallel Advisors LLC increased its stake in ON by 2.8% during the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company's stock worth $486,000 after buying an additional 285 shares during the period. J.W. Cole Advisors Inc. increased its stake in ON by 2.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company's stock worth $571,000 after buying an additional 285 shares during the period. Parsons Capital Management Inc. RI increased its stake in ON by 4.3% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company's stock worth $307,000 after buying an additional 300 shares during the period. Finally, MetLife Investment Management LLC increased its stake in ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company's stock worth $670,000 after buying an additional 308 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of ON from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday. UBS Group reissued a "buy" rating on shares of ON in a research note on Thursday, February 19th. Guggenheim reissued a "buy" rating and issued a $51.00 target price on shares of ON in a research note on Wednesday. Zacks Research downgraded shares of ON from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 11th. Finally, Evercore set a $42.00 price target 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 issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.05.
View Our Latest Research Report on ON
ON Company Profile
(
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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