Insider Buying: ON (NYSE:ONON) CEO Acquires 65,000 Shares of Stock

Key Points

• CEO Caspar Felix Coppetti bought 65,000 ON shares at an average price of $30.67, investing nearly $2.0 million and increasing his direct ownership by 2.74% to 2.44 million shares.
• ON shares opened at $32.23, near the lower end of their 12-month range of $30.11 to $51.08. The company recently reported $0.35 in quarterly EPS and $1.05 billion in revenue, both below analyst expectations, though revenue grew 13.5% year over year.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $48.57, despite several firms recently lowering their targets.

On Holding AG (NYSE:ONON - Get Free Report) CEO Caspar Felix Coppetti bought 65,000 shares of ON stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ON Trading Up 0.0%

Shares of ONON opened at $32.23 on Monday. On Holding AG has a twelve month low of $30.11 and a twelve month high of $51.08. The stock has a market cap of $20.57 billion, a PE ratio of 21.93, a P/E/G ratio of 0.64 and a beta of 2.12. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. The business's 50-day moving average price is $36.82 and its 200-day moving average price is $38.50.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 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 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 quarter last year, the business posted ($0.09) earnings per share. On average, equities analysts forecast that On Holding AG will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its holdings in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after acquiring an additional 467 shares during the last quarter. Caitlin John LLC bought a new position in ON in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position in ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock valued at $26,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON during the fourth quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after purchasing an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ONON. 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. Barclays lowered their price objective on ON from $46.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday. Truist Financial dropped their price objective on ON from $48.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Telsey Advisory Group reduced their target price on ON from $51.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, August 12th. Finally, Needham & Company LLC decreased their target price on ON from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.

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