Banque Pictet & Cie SA Acquires 25,000 Shares of On Holding AG $ONON

Banque Pictet & Cie SA boosted its holdings in shares of On Holding AG (NYSE:ONON) by 10.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 255,505 shares of the company’s stock after buying an additional 25,000 shares during the period. Banque Pictet & Cie SA’s holdings in ON were worth $11,876,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ONON. Sands Capital Management LLC lifted its position 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 worth $286,685,000 after buying an additional 2,155,083 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of ON during the 2nd quarter worth about $248,113,000. Bamco Inc. NY increased its holdings in shares of ON by 14.7% during the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock valued at $201,017,000 after acquiring an additional 606,579 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after acquiring an additional 365,907 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of ON by 44.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after acquiring an additional 1,026,804 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ONON. Evercore set a $58.00 target price on ON and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of ON in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of ON in a report on Thursday, February 19th. Finally, Piper Sandler reiterated an “overweight” rating on shares of ON in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.24.

ON Price Performance

Shares of NYSE:ONON opened at $34.73 on Thursday. The business has a 50 day moving average price of $42.53 and a 200 day moving average price of $43.43. On Holding AG has a twelve month low of $31.41 and a twelve month high of $61.29. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 0.68 and a beta of 2.23. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27.

Insider Buying and Selling

In other news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.79, for a total transaction of $165,128.50. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 68.57% of the stock is currently owned by corporate insiders.

ON 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.