David Michael Allemann Buys 60,000 Shares of ON (NYSE:ONON) Stock

On Holding AG (NYSE:ONON) CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the purchase, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

ON Stock Performance

Shares of ONON opened at $36.76 on Friday. The firm has a market capitalization of $23.46 billion, a P/E ratio of 39.53, a PEG ratio of 0.72 and a beta of 2.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.13. On Holding AG has a one year low of $31.41 and a one year high of $61.29. The business has a fifty day moving average of $36.36 and a 200 day moving average of $41.83.

Analyst Upgrades and Downgrades

ONON has been the subject of several recent research reports. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. Guggenheim restated a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday. Finally, Barclays decreased their price objective on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

Institutional Investors Weigh In On ON

Institutional investors have recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC raised its position in shares of ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares during the last quarter. Parallel Advisors LLC grew its stake in ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after acquiring an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in ON by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after acquiring an additional 285 shares during the last quarter. Parsons Capital Management Inc. RI increased its holdings in ON by 4.3% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in ON by 2.2% in the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after purchasing an additional 308 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

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.