Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of On Holding AG (NYSE:ONON – Free Report) by 78.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,800 shares of the company’s stock after selling 235,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ON were worth $2,204,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming increased its holdings in ON by 132.6% during the first quarter. State of Wyoming now owns 4,508 shares of the company’s stock worth $153,000 after buying an additional 2,570 shares during the last quarter. Cetera Investment Advisers boosted its stake in ON by 2.8% in the first quarter. Cetera Investment Advisers now owns 57,437 shares of the company’s stock valued at $1,954,000 after acquiring an additional 1,557 shares during the last quarter. Militia Capital Management LLC bought a new position in shares of ON during the 1st quarter valued at approximately $1,388,000. NewEdge Wealth LLC increased its stake in shares of ON by 65.5% during the 1st quarter. NewEdge Wealth LLC now owns 11,611 shares of the company’s stock worth $395,000 after purchasing an additional 4,596 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of ON by 182.0% during the 1st quarter. First Trust Advisors LP now owns 17,701 shares of the company’s stock worth $602,000 after purchasing an additional 11,425 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.
Insiders Place Their Bets
In other news, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 180,000 shares of company stock worth $6,594,000 in the last three months. 68.57% of the stock is currently owned by corporate insiders.
ON Trading Down 2.1%
ON (NYSE:ONON – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. On average, equities analysts forecast that On Holding AG will post 1.5 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ONON has been the subject of several research reports. Guggenheim reissued a “buy” rating and set a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Truist Financial dropped their price target on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Barclays decreased their price objective on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Telsey Advisory Group reduced their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $53.63.
View Our Latest Research Report on ONON
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.
Featured Articles
- Five stocks we like better than ON
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Receive News & Ratings for ON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON and related companies with MarketBeat.com's FREE daily email newsletter.
