ON (NYSE:ONON) Shares Gap Down After Insider Selling

On Holding AG (NYSE:ONON)’s share price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $39.59, but opened at $36.97. ON shares last traded at $35.9540, with a volume of 5,939,816 shares traded.

Specifically, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.79, for a total transaction of $165,128.50. Following the transaction, the chief executive officer directly owned 1,357,020 shares of the company’s stock, valued at $53,995,825.80. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. Guggenheim cut their target price on ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Barclays decreased their price target on ON from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Finally, Stifel Nicolaus set a $58.00 price target on ON in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.24.

More ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: Co‑founders named co‑CEOs, which could preserve strategy and brand continuity; the company positioned the change as a planned leadership transition. BusinessWire announcement
• Positive Sentiment: Some sell‑side support remains: Telsey Advisory trimmed its price target (from $65 to $60) but kept an Outperform rating, signaling analysts still see upside over time. Benzinga
• Neutral Sentiment: Analyst consensus is roughly in the “moderate buy” area, indicating institutional views are mixed but not uniformly negative. Analyst roundup
• Neutral Sentiment: On has been a trending/closely watched name recently; increased attention can amplify intraday moves and volatility. Zacks trending note
• Negative Sentiment: Longtime CEO Martin Hoffmann stepped down (to an advisor role through 2027), a leadership change that spooked investors and undercut confidence in near‑term execution amid slowing growth. CNBC
• Negative Sentiment: Insider sale: Hoffmann sold ~4,150 shares last week; while small relative to his holding, the timing around the announcement likely amplified negative sentiment. SEC filing
• Negative Sentiment: Market reaction: heavy trading and large intraday selling pushed the share price toward its 52‑week low, reflecting short‑term risk aversion around execution and leadership continuity. Zacks market note

ON Trading Down 10.9%

The stock’s 50 day simple moving average is $43.76 and its two-hundred day simple moving average is $43.81. The stock has a market capitalization of $22.50 billion, a PE ratio of 48.97, a PEG ratio of 0.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13.

Institutional Investors Weigh In On ON

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of ON during the 2nd quarter valued at $138,641,000. Great Point Wealth Advisors LLC purchased a new stake in ON in the 3rd quarter worth about $1,607,000. Lecap Asset Management Ltd. purchased a new stake in ON in the 3rd quarter worth about $1,473,000. Winslow Capital Management LLC bought a new stake in ON in the 2nd quarter valued at about $248,113,000. Finally, Sands Capital Management LLC raised its stake in ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after acquiring an additional 2,155,083 shares during the period. 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.