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

On Holding AG (NYSE:ONON) insider Olivier Bernhard purchased 65,000 shares of ON stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the insider directly owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ON Stock Up 0.0%

ON stock opened at $32.23 on Monday. The stock’s 50 day moving average price is $36.82 and its 200 day moving average price is $38.50. On Holding AG has a 1-year low of $30.11 and a 1-year high of $51.08. The company has a market cap of $20.57 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 0.64 and a beta of 2.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.

ON (NYSE:ONON) last released its quarterly earnings data 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). ON had a return on equity of 22.92% and a net margin of 12.09%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue was up 13.5% compared to the same quarter last year. On average, sell-side analysts predict that On Holding AG will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

A number of large investors have recently added to or reduced their stakes in ONON. Handelsbanken Fonder AB acquired a new position in ON during the second quarter worth about $2,851,000. Gradient Investments LLC lifted its stake in ON by 14.0% in the 2nd quarter. Gradient Investments LLC now owns 64,799 shares of the company’s stock valued at $2,295,000 after buying an additional 7,934 shares in the last quarter. Red Spruce Capital LLC grew its holdings in ON by 40.9% during the 2nd quarter. Red Spruce Capital LLC now owns 60,114 shares of the company’s stock valued at $2,129,000 after buying an additional 17,445 shares during the last quarter. City Center Advisors LLC grew its holdings in ON by 8.1% during the 2nd quarter. City Center Advisors LLC now owns 8,246 shares of the company’s stock valued at $292,000 after buying an additional 619 shares during the last quarter. Finally, PVG Asset Management Corp increased its position in ON by 5.4% during the second quarter. PVG Asset Management Corp now owns 9,341 shares of the company’s stock worth $331,000 after buying an additional 480 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONON. Sanford C. Bernstein reiterated an “outperform” rating and issued a $62.00 price target on shares of ON in a report on Wednesday. Telsey Advisory Group dropped their target price on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Williams Trading set a $32.00 target price on shares of ON in a report on Tuesday, August 11th. William Blair downgraded shares of ON from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Finally, Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.57.

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.