ABN Amro Investment Solutions Acquires Shares of 71,559 On Holding AG $ONON

ABN Amro Investment Solutions bought a new position in shares of On Holding AG (NYSE:ONON) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 71,559 shares of the company’s stock, valued at approximately $2,434,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Morgan Stanley grew its position in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after buying an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. acquired a new stake in shares of ON in the 4th quarter valued at approximately $525,784,000. Sinvest Investments II Ltd. bought a new position in ON during the 4th quarter worth approximately $390,432,000. Bamco Inc. NY boosted its stake in ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after acquiring an additional 658,933 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after purchasing an additional 1,026,804 shares during the period. Institutional investors own 36.39% of the company’s stock.

ON Stock Down 5.0%

NYSE:ONON opened at $34.83 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The company has a market cap of $22.22 billion, a PE ratio of 37.45, a PEG ratio of 0.68 and a beta of 2.12. On Holding AG has a 52-week low of $31.41 and a 52-week high of $52.41. The stock has a 50-day simple moving average of $37.70 and a 200 day simple moving average of $39.75.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts expect that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the acquisition, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $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 the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 180,000 shares of company stock valued at $6,594,000 over the last ninety days. 68.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Thursday, April 23rd. JPMorgan Chase & Co. began coverage on ON in a research note on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective on the stock. Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Telsey Advisory Group decreased their target price on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target 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.