On Holding AG $ONON Holdings Lifted by APEIRON CAPITAL Ltd

APEIRON CAPITAL Ltd lifted its position in shares of On Holding AG (NYSE:ONON) by 25.2% in the 1st quarter, Holdings Channel reports. The fund owned 996,052 shares of the company’s stock after buying an additional 200,200 shares during the quarter. ON accounts for approximately 31.7% of APEIRON CAPITAL Ltd’s holdings, making the stock its largest position. APEIRON CAPITAL Ltd’s holdings in ON were worth $33,886,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Platinum Paramount Investment LTD. bought a new stake in ON in the 4th quarter valued at about $525,784,000. Sinvest Investments II Ltd. bought a new position in ON during the fourth quarter worth about $390,432,000. Morgan Stanley lifted its stake 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 buying an additional 6,997,455 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in ON in the 4th quarter worth approximately $142,425,000. Finally, Norges Bank purchased a new position in ON in the 4th quarter valued at approximately $128,826,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ONON. Telsey Advisory Group lowered their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. KeyCorp decreased their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Finally, Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Two equities 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Stock Performance

NYSE:ONON opened at $37.09 on Friday. The stock has a market cap of $23.67 billion, a P/E ratio of 39.89, a PEG ratio of 0.70 and a beta of 2.10. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $37.28 and its two-hundred day moving average price is $41.23. On Holding AG has a twelve month low of $31.41 and a twelve month high of $55.95.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, equities analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Activity at ON

In other news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have purchased 180,000 shares of company stock valued at $6,594,000 and have sold 16,600 shares valued at $580,710. Corporate insiders own 68.57% of the company’s stock.

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.