ABN Amro Investment Solutions Takes Position in On Holding AG $ONON

ABN Amro Investment Solutions bought a new position in shares of On Holding AG (NYSE:ONON) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 71,559 shares of the company’s stock, valued at approximately $2,434,000.

A number of other institutional investors have also made changes to their positions in ONON. Morgan Stanley lifted its holdings in 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 purchasing an additional 6,997,455 shares during the last quarter. Platinum Paramount Investment LTD. bought a new stake in shares of ON during the 4th quarter worth about $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON in the 4th quarter valued at about $390,432,000. Bamco Inc. NY grew its stake in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after buying an additional 658,933 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in 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 during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Down 5.0%

Shares of NYSE ONON opened at $34.83 on Friday. The stock has a market capitalization of $22.22 billion, a P/E ratio of 37.45, a PEG ratio of 0.68 and a beta of 2.12. The stock’s fifty day moving average is $37.70 and its 200 day moving average is $39.75. On Holding AG has a 52 week low of $31.41 and a 52 week high of $52.41. 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 (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 analysts’ expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. Sell-side analysts forecast that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Michael Allemann acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the purchase, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. The trade was 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 90 days, insiders purchased 180,000 shares of company stock worth $6,594,000. Insiders own 68.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ONON shares. Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Barclays dropped their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research note on Thursday, April 23rd. Guggenheim reiterated a “buy” rating and set a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Finally, Telsey Advisory Group dropped their target price on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ON currently has a consensus 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.