Moran Wealth Management LLC lifted its position in shares of On Holding AG (NYSE:ONON – Free Report) by 1,785.7% during the 1st quarter, Holdings Channel reports. The firm owned 133,788 shares of the company’s stock after purchasing an additional 126,693 shares during the quarter. Moran Wealth Management LLC’s holdings in ON were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of ONON. Platinum Paramount Investment LTD. acquired a new position in ON during the fourth quarter worth approximately $525,784,000. Sinvest Investments II Ltd. acquired a new stake in shares of ON in the fourth quarter valued at approximately $390,432,000. Morgan Stanley lifted its position 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 buying an additional 6,997,455 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of ON during the 4th quarter worth approximately $142,425,000. Finally, Norges Bank bought a new position in shares of ON during the 4th quarter worth approximately $128,826,000. 36.39% of the stock is owned by institutional investors.
ON Stock Performance
Shares of NYSE ONON opened at $36.81 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The stock’s fifty day moving average price is $37.22 and its two-hundred day moving average price is $40.81. On Holding AG has a one year low of $31.41 and a one year high of $54.72. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 0.68 and a beta of 2.12.
Insider Buying and Selling at ON
In other ON news, CEO Caspar Felix Coppetti purchased 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the purchase, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. The trade was a 2.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have acquired 180,000 shares of company stock valued at $6,594,000 and have sold 16,600 shares valued at $580,710. Corporate insiders own 68.57% of the company’s stock.
Wall Street Analyst Weigh In
ONON has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Evercore set a $42.00 price objective on shares of ON in a report on Tuesday, May 12th. Barclays dropped their price objective on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ON has an average rating of “Moderate Buy” and a consensus target price of $53.79.
About ON
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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