ON (NYSE:ONON) CEO Martin Hoffmann Sells 4,150 Shares

Key Points

• ON CEO Martin Hoffmann sold 4,150 shares on April 27 at an average price of $35.84 under a pre-arranged Rule 10b5‑1 plan, generating about $148,736 and leaving him with 1,385,099 shares (a 0.30% reduction).
• The April 27 sale is one of five recent weekly sales (Mar 23, Apr 6, Apr 13, Apr 20 and Apr 27), each for 4,150 shares, totaling 20,750 shares and roughly $745,800 in proceeds.
• ON stock traded down about 1.9% to $35.26 after the news; analysts have a consensus rating of Moderate Buy with an average target of $58.40 and the company has a market cap of $22.5 billion.

On Holding AG (NYSE:ONON - Get Free Report) CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares of the company's stock, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $36.56, for a total transaction of $151,724.00.
• On Monday, April 13th, Martin Hoffmann sold 4,150 shares of ON stock. The stock was sold at an average price of $33.95, for a total value of $140,892.50.
• On Monday, April 6th, Martin Hoffmann sold 4,150 shares of ON stock. The shares were sold at an average price of $33.58, for a total value of $139,357.00.
• 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 value of $165,128.50.

ON Stock Down 1.9%

Shares of ON stock traded down $0.67 during trading on Tuesday, reaching $35.26. The company had a trading volume of 1,581,534 shares, compared to its average volume of 6,035,574. The firm's fifty day moving average is $38.95 and its 200-day moving average is $42.36. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $61.29. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 48.90, a price-to-earnings-growth ratio of 0.73 and a beta of 2.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d+)" rating on shares of ON in a research note on Tuesday, April 21st. Telsey Advisory Group reduced their price target on ON from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. BTIG Research restated a "buy" rating and set a $70.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of ON in a research report on Wednesday, March 4th. Finally, Williams Trading downgraded shares of ON from a "buy" rating to a "hold" rating and dropped their price target for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and an average target price of $58.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Morgan Stanley increased its holdings in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company's stock valued at $1,121,092,000 after acquiring an additional 6,997,455 shares during the last quarter. Platinum Paramount Investment LTD. bought a new position in shares of ON in the fourth quarter valued at approximately $525,784,000. Sinvest Investments II Ltd. acquired a new stake in shares of ON in the fourth quarter worth $390,432,000. Sands Capital Management LLC boosted its holdings in shares of ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company's stock worth $286,685,000 after buying an additional 2,155,083 shares during the period. Finally, Bamco Inc. NY grew its stake in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company's stock valued at $251,247,000 after buying an additional 658,933 shares during the last quarter. 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.

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