California First Leasing Corp Buys 21,000 Shares of On Holding AG $ONON

California First Leasing Corp raised its stake in On Holding AG (NYSE:ONON) by 33.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,100 shares of the company’s stock after purchasing an additional 21,000 shares during the period. ON accounts for approximately 0.9% of California First Leasing Corp’s investment portfolio, making the stock its 28th largest holding. California First Leasing Corp’s holdings in ON were worth $2,861,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of ON by 40.9% in 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. Platinum Paramount Investment LTD. bought a new position in shares of ON during the 4th quarter worth approximately $525,784,000. Sinvest Investments II Ltd. bought a new position in shares of ON during the 4th quarter worth approximately $390,432,000. Sands Capital Management LLC lifted its position in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after acquiring an additional 2,155,083 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in ON by 13.9% in the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after acquiring an additional 658,933 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays cut their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen raised ON from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.79.

ON Trading Down 0.1%

NYSE ONON opened at $36.81 on Monday. On Holding AG has a 12-month low of $31.41 and a 12-month high of $54.72. The company has a fifty day simple moving average of $37.22 and a two-hundred day simple moving average of $40.76. 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 stock has a market cap of $23.49 billion, a P/E ratio of 39.58, a P/E/G ratio of 0.68 and a beta of 2.12.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share 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 analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that On Holding AG will post 1.5 earnings per share for the current year.

Insider Transactions at ON

In other news, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction on 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 purchase, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’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 approximately $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. In the last quarter, insiders purchased 180,000 shares of company stock worth $6,594,000 and sold 12,450 shares worth $441,352.

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.