On Holding AG $ONON Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of On Holding AG (NYSE:ONON) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 854,148 shares of the company’s stock after buying an additional 53,169 shares during the quarter. Cerity Partners LLC owned approximately 0.14% of ON worth $39,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ONON. Bison Wealth LLC grew its position in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after buying an additional 2,442 shares in the last quarter. Prudential Financial Inc. purchased a new stake in ON during the second quarter worth approximately $517,000. Invesco Ltd. lifted its stake in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after purchasing an additional 118,498 shares during the last quarter. Cresset Asset Management LLC lifted its stake in ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock worth $376,000 after purchasing an additional 860 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in ON by 91.7% during the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after purchasing an additional 1,273 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ONON. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Evercore set a $42.00 target price on ON in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating and set a $51.00 target price on shares of ON in a research note on Wednesday, May 13th. Needham & Company LLC decreased their target price on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Truist Financial decreased their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Trading Down 0.4%

ONON opened at $38.09 on Thursday. The firm has a market cap of $24.31 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 0.74 and a beta of 2.10. On Holding AG has a 52 week low of $31.41 and a 52 week high of $58.08. The business’s 50 day moving average is $36.40 and its two-hundred day moving average is $41.77. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, research analysts predict that On Holding AG will post 1.47 EPS for the current year.

Insider Transactions at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann purchased 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. Company insiders own 68.57% of the company’s stock.

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.