Insider Buying: ON (NYSE:ONON) Insider Purchases $1,993,550.00 in Stock

On Holding AG (NYSE:ONON) insider Olivier Bernhard bought 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

ON Price Performance

NYSE ONON opened at $31.25 on Thursday. The firm’s fifty day simple moving average is $36.42 and its two-hundred day simple moving average is $38.20. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. On Holding AG has a 12-month low of $30.11 and a 12-month high of $51.08. The firm has a market capitalization of $19.94 billion, a P/E ratio of 21.26, a P/E/G ratio of 0.62 and a beta of 2.12.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts forecast that On Holding AG will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. KeyCorp reiterated an “overweight” rating on shares of ON in a research note on Monday, August 10th. JPMorgan Chase & Co. began coverage on shares of ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of ON from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Evercore set a $40.00 price objective on shares of ON in a research report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.57.

Institutional Trading of ON

Large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after purchasing an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. purchased a new position in shares of ON in the fourth quarter worth about $525,784,000. Sinvest Investments II Ltd. acquired a new stake in shares of ON during the fourth quarter worth about $390,432,000. Bamco Inc. NY lifted its holdings in shares of ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after purchasing an additional 658,933 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in ON by 44.8% in the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after buying an additional 1,026,804 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.