On Holding AG $ONON Stock Holdings Trimmed by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its position in shares of On Holding AG (NYSE:ONON) by 86.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,293 shares of the company’s stock after selling 21,805 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in ON were worth $112,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Morgan Stanley raised 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 valued at $1,121,092,000 after acquiring an additional 6,997,455 shares in the last quarter. Platinum Paramount Investment LTD. acquired a new position in ON in the fourth quarter worth $525,784,000. Sinvest Investments II Ltd. bought a new stake in ON during the fourth quarter valued at $390,432,000. Sands Capital Management LLC raised its holdings 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 purchasing an additional 2,155,083 shares during the period. Finally, Bamco Inc. NY raised its holdings in shares of ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after purchasing an additional 658,933 shares during the period. Institutional investors own 36.39% of the company’s stock.

Insider Activity at ON

In other news, CEO Caspar Felix Coppetti purchased 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the purchase, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Michael Allemann purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 12,450 shares worth $441,352.

ON Trading Down 0.1%

NYSE:ONON opened at $36.81 on Monday. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 0.68 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. On Holding AG has a 1 year low of $31.41 and a 1 year high of $54.72. The business has a fifty day moving average of $37.22 and a 200-day moving average of $40.76.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. Equities analysts predict that On Holding AG will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Telsey Advisory Group decreased their price target on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Evercore set a $42.00 price target on ON in a report on Tuesday, May 12th. Zacks Research downgraded ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, KeyCorp dropped their target price on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently 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.