JW Asset Management LLC Takes Position in On Holding AG $ONON

JW Asset Management LLC bought a new stake in On Holding AG (NYSE:ONON – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 135,950 shares of the company’s stock, valued at approximately $6,319,000. ON accounts for about 2.1% of JW Asset Management LLC’s portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of ON in the fourth quarter valued at $142,425,000. Ameriprise Financial Inc. raised its stake in shares of ON by 4,564.3% in the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after acquiring an additional 2,242,480 shares during the period. Sands Capital Management LLC raised its stake in shares of ON by 46.7% in the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after acquiring an additional 2,155,083 shares during the period. State Street Corp raised its stake in shares of ON by 765.4% in the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after acquiring an additional 1,962,586 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of ON in the third quarter valued at $43,868,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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ON Trading Up 3.5%

ONON stock opened at $39.17 on Friday. The company has a market capitalization of $24.99 billion, a PE ratio of 42.12, a P/E/G ratio of 0.76 and a beta of 2.09. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29. The firm’s 50-day moving average is $35.95 and its 200 day moving average is $41.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

Analysts Set New Price Targets

ONON has been the topic of several recent analyst reports. Barclays reduced their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Stifel Nicolaus set a $58.00 price target on shares of ON in a research note on Tuesday, March 3rd. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.

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Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were 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 $49,641,948.16. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. Company insiders own 68.57% of the company’s stock.

About ON

(Free Report)

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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