Frank Sluis Sells 687 Shares of ON (NYSE:ONON) Stock

On Holding AG (NYSE:ONON) CFO Frank Sluis sold 687 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $27.74, for a total value of $19,057.38. Following the completion of the transaction, the chief financial officer directly owned 997 shares in the company, valued at $27,656.78. This represents a 40.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ON Stock Performance

Shares of NYSE ONON traded down $0.09 during mid-day trading on Wednesday, hitting $27.18. The company had a trading volume of 2,141,611 shares, compared to its average volume of 6,234,297. On Holding AG has a 1 year low of $26.83 and a 1 year high of $51.08. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 0.57 and a beta of 2.08. The stock’s 50-day moving average price is $34.00 and its 200-day moving average price is $36.60.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share 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 the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. ON’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned ($0.09) EPS. On average, sell-side analysts forecast that On Holding AG will post 1.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ONON shares. Evercore set a $40.00 price target on ON in a report on Wednesday, August 12th. UBS Group cut their target price on ON from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Robert W. Baird dropped their price target on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Capital One Financial set a $28.00 price objective on shares of ON in a research report on Tuesday. Finally, The Goldman Sachs Group set a $42.00 target price on ON in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.78.

Institutional Trading of ON

A number of institutional investors have recently modified their holdings of ONON. Capital Analysts LLC boosted its stake in shares of ON by 15.5% in the 2nd quarter. Capital Analysts LLC now owns 6,049 shares of the company’s stock valued at $214,000 after purchasing an additional 810 shares in the last quarter. NewEdge Advisors LLC lifted its stake in ON by 26.8% in the 2nd quarter. NewEdge Advisors LLC now owns 25,494 shares of the company’s stock worth $903,000 after purchasing an additional 5,394 shares in the last quarter. California State Teachers Retirement System boosted its stake in ON by 812.6% during the second quarter. California State Teachers Retirement System now owns 113,061 shares of the company’s stock worth $4,005,000 after buying an additional 100,672 shares during the period. TD Waterhouse Canada Inc. boosted its position in ON by 44.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 18,378 shares of the company’s stock valued at $654,000 after buying an additional 5,625 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in ON during the 2nd quarter valued at $288,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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.