Wasatch Advisors LP grew its stake in On Holding AG (NYSE:ONON – Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,030 shares of the company’s stock after acquiring an additional 22,597 shares during the period. Wasatch Advisors LP’s holdings in ON were worth $6,669,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of ONON. Jacobi Capital Management LLC grew its stake in shares of ON by 3.6% during the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after purchasing an additional 240 shares during the last quarter. Parallel Advisors LLC raised its position in ON by 2.8% in the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after purchasing an additional 285 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in ON by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after purchasing an additional 285 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after buying an additional 308 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in ON by 0.3% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company’s stock worth $5,142,000 after buying an additional 318 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Caspar Felix Coppetti bought 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Michael Allemann purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the chief executive officer owned 2,841,108 shares in the company, valued at $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 180,000 shares of company stock worth $6,594,000 and have sold 16,600 shares worth $580,710. Insiders own 68.57% of the company’s stock.
ON Stock Performance
ON (NYSE:ONON – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. As a group, equities research analysts predict that On Holding AG will post 1.5 EPS for the current year.
Analyst Ratings Changes
Several research firms have recently commented on ONON. Wall Street Zen raised ON from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial cut their price target on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Telsey Advisory Group decreased their price target on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. KeyCorp lowered their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Guggenheim reissued a “buy” rating and set a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and an average target price of $55.05.
Read Our Latest Report on ONON
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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