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

On Holding AG (NYSE:ONON) CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $36.56, for a total transaction of $151,724.00. Following the completion of the transaction, the chief executive officer owned 1,389,249 shares in the company, valued at $50,790,943.44. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 13th, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $33.95, for a total transaction of $140,892.50.
• 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 transaction 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 transaction of $165,128.50.

ON Stock Performance

Shares of ON stock opened at $36.75 on Wednesday. The firm has a market capitalization of $23.45 billion, a P/E ratio of 51.04, a P/E/G ratio of 0.75 and a beta of 2.23. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $39.65 and its two-hundred day moving average is $42.55.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Williams Trading lowered shares of ON from a “buy” rating to a “hold” rating and dropped their price target for the company from $55.00 to $47.00 in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Barclays reduced 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. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Stifel Nicolaus set a $58.00 target price on shares of ON in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and an average target price of $58.62.

Hedge Funds Weigh In On ON

A number of hedge funds have recently modified their holdings of the business. Bison Wealth LLC lifted its holdings in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares during the period. Prudential Financial Inc. acquired a new position in ON in the 2nd quarter valued at $517,000. Invesco Ltd. increased its stake in ON by 305.5% in the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock valued at $8,186,000 after buying an additional 118,498 shares during the period. Cresset Asset Management LLC increased its stake in ON by 13.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after buying an additional 860 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in ON by 91.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock valued at $139,000 after buying an additional 1,273 shares during the period. 36.39% of the stock is currently 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.