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

On Holding AG (NYSE:ONON) CEO Caspar Felix Coppetti acquired 65,000 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer directly 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

ON Stock Up 0.0%

Shares of NYSE:ONON opened at $32.23 on Monday. The firm has a market capitalization of $20.57 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.64 and a beta of 2.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The stock has a 50 day moving average price of $36.82 and a 200-day moving average price of $38.50. On Holding AG has a 52-week low of $30.11 and a 52-week high of $51.08.

ON (NYSE:ONON) last posted its quarterly earnings data 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 firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.ON’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) EPS. As a group, equities research analysts anticipate that On Holding AG will post 1.51 EPS for the current fiscal year.

Institutional Trading of ON

Several hedge funds have recently modified their holdings of ONON. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after acquiring an additional 62,500 shares during the last quarter. One Capital Management LLC purchased a new position in shares of ON during the fourth quarter valued at approximately $8,887,000. Quantinno Capital Management LP grew its stake in shares of ON by 89.6% during the first 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 during the last quarter. RFG Advisory LLC bought a new position in shares of ON during the fourth quarter valued at approximately $1,343,000. Finally, Norges Bank purchased a new stake in shares of ON in the fourth quarter worth approximately $128,826,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ONON shares. Guggenheim reiterated a “buy” rating and issued a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. BTIG Research dropped their price objective on ON from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Raymond James Financial lowered shares of ON from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $52.00 to $38.00 in a research note on Wednesday, August 12th. Williams Trading set a $32.00 price target on ON in a report on Tuesday, August 11th. Finally, UBS Group reduced their price target on shares of ON from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently 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.