ON Target of Unusually High Options Trading (NYSE:ONON)

On Holding AG (NYSE:ONON) saw unusually large options trading activity on Monday. Investors acquired 21,225 call options on the company. This is an increase of 67% compared to the average volume of 12,696 call options.

Analysts Set New Price Targets

ONON has been the subject of a number of recent research reports. KeyCorp reissued an “overweight” rating on shares of ON in a research report on Wednesday, March 4th. Piper Sandler restated an “overweight” rating on shares of ON in a report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of ON in a report on Thursday, February 26th. Finally, UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.24.

Insider Transactions at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $39.79, for a total transaction of $165,128.50. Following the sale, the chief executive officer directly owned 1,357,020 shares in the company, valued at $53,995,825.80. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Trading of ON

Large investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. acquired a new position in shares of ON in the 4th quarter valued at approximately $212,000. Rockefeller Capital Management L.P. boosted its position in shares of ON by 117.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 118,661 shares of the company’s stock worth $5,515,000 after acquiring an additional 64,138 shares in the last quarter. World Investment Advisors acquired a new stake in shares of ON during the 4th quarter worth approximately $207,000. PeakShares LLC bought a new position in ON in the fourth quarter valued at approximately $564,000. Finally, SHP Wealth Management acquired a new position in ON during the fourth quarter valued at approximately $333,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Down 1.6%

ONON stock opened at $31.86 on Tuesday. The business’s fifty day moving average price is $42.96 and its two-hundred day moving average price is $43.56. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 0.65 and a beta of 2.14. ON has a fifty-two week low of $31.41 and a fifty-two week high of $61.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13.

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.