Landscape Capital Management L.L.C. decreased its position in shares of On Holding AG (NYSE:ONON – Free Report) by 46.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,621 shares of the company’s stock after selling 36,470 shares during the period. Landscape Capital Management L.L.C.’s holdings in ON were worth $1,935,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arax Advisory Partners grew its holdings in ON by 22.8% during the 4th quarter. Arax Advisory Partners now owns 1,956 shares of the company’s stock valued at $91,000 after buying an additional 363 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in ON by 3.6% during the 4th 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 in the last quarter. CreativeOne Wealth LLC grew its holdings in ON by 8.7% during the 4th quarter. CreativeOne Wealth LLC now owns 13,192 shares of the company’s stock valued at $613,000 after buying an additional 1,056 shares in the last quarter. Cordoba Advisory Partners LLC purchased a new stake in ON during the 4th quarter valued at approximately $238,000. Finally, Marshall Wace LLP grew its holdings in ON by 76.9% during the 4th quarter. Marshall Wace LLP now owns 707,856 shares of the company’s stock valued at $32,901,000 after buying an additional 307,721 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.
ON Stock Up 0.2%
Shares of ONON opened at $38.66 on Tuesday. The company has a market cap of $24.67 billion, a PE ratio of 41.57, a P/E/G ratio of 0.75 and a beta of 2.10. The business has a fifty day moving average of $36.69 and a 200 day moving average of $41.71. On Holding AG has a 52-week low of $31.41 and a 52-week high of $55.95. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.
Insiders Place Their Bets
In other ON news, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the purchase, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Bernhard bought 60,000 shares of ON stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on ONON shares. Needham & Company LLC cut their price objective on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Barclays lowered their target price on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. KeyCorp lowered their target price on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Truist Financial lowered their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $55.05.
Read Our Latest Stock Report on ON
ON 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.
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