Fox Run Management L.L.C. cut its position in shares of On Holding AG (NYSE:ONON – Free Report) by 61.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,977 shares of the company’s stock after selling 28,824 shares during the quarter. Fox Run Management L.L.C.’s holdings in ON were worth $836,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ONON. Bison Wealth LLC grew its position in ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after buying an additional 2,442 shares in the last quarter. Prudential Financial Inc. acquired a new stake in ON during the second quarter worth about $517,000. Invesco Ltd. grew its position in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after buying an additional 118,498 shares in the last quarter. Cresset Asset Management LLC grew its position in ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock worth $376,000 after buying an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in ON by 91.7% during the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after buying an additional 1,273 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO David Michael Allemann bought 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the purchase, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction dated 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 purchase, the insider directly owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. Insiders own 68.57% of the company’s stock.
ON Stock Performance
ON (NYSE:ONON – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. ON’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that On Holding AG will post 1.47 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on ONON shares. Truist Financial decreased their target price on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Evercore set a $42.00 price target on shares of ON in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating and set a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Needham & Company LLC cut their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, BTIG Research restated a “buy” rating and set a $70.00 price target on shares of ON in a research note on Tuesday, March 3rd. 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 issued a Sell rating to the stock. Based on data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average target price of $55.05.
Get Our Latest Stock 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.
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