On Holding AG $ONON Holdings Boosted by Banque Pictet & Cie SA

Banque Pictet & Cie SA raised its position in shares of On Holding AG (NYSE:ONON) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,505 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Banque Pictet & Cie SA’s holdings in ON were worth $11,876,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank purchased a new stake in ON in the 2nd quarter worth about $138,641,000. Great Point Wealth Advisors LLC acquired a new stake in ON during the 3rd quarter worth about $1,607,000. Lecap Asset Management Ltd. purchased a new position in ON during the 3rd quarter valued at about $1,473,000. Winslow Capital Management LLC purchased a new position in ON during the 2nd quarter valued at about $248,113,000. Finally, Sands Capital Management LLC increased its holdings in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after purchasing an additional 2,155,083 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Insiders Place Their Bets

In other ON news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.79, for a total value of $165,128.50. Following the completion of the sale, the chief executive officer directly owned 1,357,020 shares in the company, valued at $53,995,825.80. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 68.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ONON shares. BTIG Research restated a “buy” rating and set a $70.00 price target on shares of ON in a report on Tuesday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and cut their target price for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Telsey Advisory Group decreased their target price on shares of ON from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average target price of $59.24.

ON Stock Up 2.1%

ONON opened at $34.73 on Thursday. The company has a market capitalization of $22.16 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 0.68 and a beta of 2.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $61.29. The business has a 50-day moving average of $42.53 and a 200-day moving average of $43.43.

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.