ON (NYSE:ONON) CEO David Michael Allemann Purchases 60,000 Shares

On Holding AG (NYSE:ONON) CEO David Michael Allemann bought 60,000 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ON Stock Performance

Shares of ONON opened at $37.21 on Friday. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29. The stock has a fifty day moving average price of $36.24 and a 200-day moving average price of $41.79. 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 firm 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on ONON shares. KeyCorp decreased their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a report on Thursday, April 23rd. Needham & Company LLC decreased their price objective on ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Finally, Stifel Nicolaus set a $58.00 price objective on ON in a report on Tuesday, March 3rd. Two investment 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after acquiring an additional 6,997,455 shares during the last quarter. Platinum Paramount Investment LTD. purchased a new position in ON in the 4th quarter worth $525,784,000. Sinvest Investments II Ltd. purchased a new position in ON in the 4th quarter worth $390,432,000. Sands Capital Management LLC raised its stake in ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after acquiring an additional 2,155,083 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after acquiring an additional 658,933 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.