ON (NYSE:ONON) Insider Olivier Bernhard Acquires 65,000 Shares

On Holding AG (NYSE:ONON) insider Olivier Bernhard purchased 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider owned 5,228,184 shares in the company, valued at $160,348,403.28. This represents a 1.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ON Trading Down 2.9%

ON stock opened at $31.28 on Tuesday. On Holding AG has a 52 week low of $30.11 and a 52 week high of $51.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.64 and a beta of 2.12. The company has a 50 day moving average price of $36.70 and a 200 day moving average price of $38.39.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. ON’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. Research analysts forecast that On Holding AG will post 1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

ONON has been the subject of several research analyst reports. BTIG Research reduced their price objective on ON from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Bank of America reaffirmed a “buy” rating on shares of ON in a research note on Wednesday, August 12th. Barclays dropped their target price on ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Robert W. Baird decreased their price target on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Finally, Zacks Research downgraded shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.57.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC boosted its holdings in ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after purchasing an additional 240 shares in the last quarter. Parallel Advisors LLC raised its holdings in ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after buying an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in ON by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after buying an additional 285 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of ON by 2.2% in the fourth 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 last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.