ON (NYSE:ONON) CEO Caspar Felix Coppetti Acquires 65,000 Shares of Stock

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti acquired 65,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This trade represents a 2.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ON Trading Down 2.9%

Shares of ONON stock opened at $31.28 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market cap of $19.96 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 0.64 and a beta of 2.12. The stock has a 50 day simple moving average of $36.70 and a 200-day simple moving average of $38.39. On Holding AG has a 1-year low of $30.11 and a 1-year high of $51.08.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $1.05 billion during 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 was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research analysts expect that On Holding AG will post 1.51 EPS for the current fiscal year.

Institutional Trading of ON

A number of hedge funds have recently bought and sold shares of ONON. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ON by 54.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock valued at $8,320,000 after purchasing an additional 62,500 shares during the last quarter. One Capital Management LLC acquired a new position in ON during the fourth quarter worth $8,887,000. Quantinno Capital Management LP grew its holdings in ON by 89.6% in the 1st quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock valued at $2,278,000 after buying an additional 31,641 shares in the last quarter. RFG Advisory LLC purchased a new stake in ON in the 4th quarter valued at $1,343,000. Finally, Norges Bank acquired a new stake in shares of ON in the 4th quarter worth $128,826,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ONON. Stifel Nicolaus reduced their price target on shares of ON from $60.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. BTIG Research lowered their price objective on ON from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen lowered ON from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of ON in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. started coverage on ON in a research report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.57.

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.