ON (NYSE:ONON) CEO Caspar Felix Coppetti Acquires 60,000 Shares of Stock

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ON Trading Up 1.0%

NYSE ONON opened at $37.21 on Friday. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 40.01, a P/E/G ratio of 0.74 and a beta of 2.09. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The business has a 50 day moving average price of $36.24 and a 200-day moving average price of $41.79. The company has a quick ratio of 2.13, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. Telsey Advisory Group decreased their price objective on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Evercore set a $42.00 price objective on ON in a report on Tuesday. Finally, Needham & Company LLC cut their target price on ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 buying an additional 62,500 shares during the period. Great Point Wealth Advisors LLC bought a new stake in shares of ON in the third quarter valued at $1,607,000. Robinhood Asset Management LLC bought a new stake in shares of ON in the fourth quarter valued at $4,747,000. Sands Capital Management LLC raised its stake in shares of ON by 46.7% in the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after buying an additional 2,155,083 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of ON by 34.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 680,646 shares of the company’s stock valued at $28,825,000 after buying an additional 175,255 shares during the period. Hedge funds and other institutional investors 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.