26,000 Shares in On Holding AG $ONON Purchased by SBI Okasan Asset Management Co.Ltd.

SBI Okasan Asset Management Co.Ltd. bought a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,000 shares of the company’s stock, valued at approximately $1,234,000.

A number of other hedge funds also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new position in ON during the fourth quarter worth approximately $27,000. Connecticut Capital Management Group LLC purchased a new position in ON during the fourth quarter worth approximately $234,000. Geode Capital Management LLC boosted its position in ON by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 1,490,827 shares of the company’s stock worth $69,294,000 after purchasing an additional 67,239 shares in the last quarter. King Luther Capital Management Corp boosted its position in ON by 5.2% during the fourth quarter. King Luther Capital Management Corp now owns 120,426 shares of the company’s stock worth $5,597,000 after purchasing an additional 5,915 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its position in ON by 23.9% during the fourth quarter. Malaga Cove Capital LLC now owns 46,340 shares of the company’s stock worth $2,154,000 after purchasing an additional 8,940 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Insider Transactions at ON

In related news, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. 68.57% of the stock is currently owned by insiders.

ON Price Performance

Shares of ON stock opened at $39.84 on Friday. The business has a 50 day simple moving average of $36.05 and a two-hundred day simple moving average of $41.91. On Holding AG has a 12 month low of $31.41 and a 12 month high of $60.62. The stock has a market capitalization of $25.42 billion, a P/E ratio of 42.84, a PEG ratio of 0.82 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 2.39.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that On Holding AG will post 1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ONON. Barclays lowered their price target on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Telsey Advisory Group lowered their price target on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Guggenheim reiterated a “buy” rating and set a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Finally, Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

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.