Insider Selling: ON (NYSE:ONON) CEO Sells 4,150 Shares of Stock

Key Points

• ON CEO Martin Hoffmann sold 4,150 shares on April 6 at an average price of $33.58 for about $139,357, trimming his stake by 0.30% to 1,397,549 shares; the transaction was executed under a pre‑arranged Rule 10b5‑1 plan (he also sold 4,150 shares on March 23 at $39.79).
• ON stock fell about 4.1% to $32.29 on heavy volume, trading below its 50- and 200-day moving averages with a market cap of ~$20.6B and a P/E of 44.85, while analysts show a consensus "Moderate Buy" with a $59.24 target.

On Holding AG (NYSE:ONON - Get Free Report) CEO Martin Hoffmann sold 4,150 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $33.58, for a total transaction of $139,357.00. Following the transaction, the chief executive officer owned 1,397,549 shares in the company, valued at $46,929,695.42. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Hoffmann also recently made the following trade(s):

• On Monday, March 23rd, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $39.79, for a total transaction of $165,128.50.

ON Trading Down 4.1%

Shares of ONON traded down $1.38 during trading hours on Tuesday, reaching $32.29. 15,862,746 shares of the company traded hands, compared to its average volume of 6,300,634. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 0.66 and a beta of 2.23. On Holding AG has a 12-month low of $31.41 and a 12-month high of $61.29. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average price is $41.48 and its 200 day moving average price is $43.12.

Institutional Trading of ON

Hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in the fourth 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 period. Caitlin John LLC purchased a new stake in ON in the fourth quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new stake in ON in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after acquiring an additional 594 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock worth $37,000 after acquiring an additional 421 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore set a $58.00 target price on shares of ON and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Stifel Nicolaus set a $58.00 target price on shares of ON in a research note on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d+)" rating on shares of ON in a research note on Thursday, January 22nd. Telsey Advisory Group lowered their price objective on shares of ON from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of ON in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.24.

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.

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