Clearbridge Investments LLC Boosts Holdings in On Holding AG $ONON

Clearbridge Investments LLC grew its holdings in shares of On Holding AG (NYSE:ONON) by 110.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,179,978 shares of the company’s stock after acquiring an additional 1,143,414 shares during the quarter. Clearbridge Investments LLC owned 0.35% of ON worth $101,325,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of ON by 54.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after acquiring an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC purchased a new position in shares of ON during the fourth quarter worth approximately $4,747,000. Sands Capital Management LLC raised its stake in shares of ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after acquiring an additional 2,155,083 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after acquiring an additional 365,907 shares in the last quarter. Finally, One Capital Management LLC purchased a new position in shares of ON during the fourth quarter worth approximately $8,887,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim reissued a “buy” rating and set a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Barclays decreased their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.05.

Insider Buying and Selling at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann bought 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.

ON Stock Performance

Shares of ONON stock opened at $37.11 on Tuesday. On Holding AG has a 12 month low of $31.41 and a 12 month high of $58.08. The stock has a market cap of $23.68 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 0.72 and a beta of 2.10. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $36.16 and its 200-day moving average price is $41.82.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 12th. The company reported $0.46 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 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 company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that On Holding AG will post 1.47 EPS for the current fiscal year.

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.