Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $1.17 Million Investment in On Holding AG $ONON

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 25,098 shares of the company’s stock, valued at approximately $1,167,000.

A number of other large investors also recently modified their holdings of ONON. PNC Financial Services Group Inc. boosted its stake in ON by 14.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,045 shares of the company’s stock worth $560,000 after buying an additional 1,541 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of ON during the fourth quarter worth approximately $801,000. HighTower Advisors LLC lifted its holdings in shares of ON by 3.7% in the 4th quarter. HighTower Advisors LLC now owns 69,897 shares of the company’s stock worth $3,249,000 after acquiring an additional 2,480 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after purchasing an additional 421 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new stake in shares of ON in the 4th quarter valued at $363,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ONON shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Truist Financial cut their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Barclays decreased their price objective on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Needham & Company LLC lowered 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, Guggenheim restated a “buy” rating and set a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Two 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.05.

ON Price Performance

ONON stock opened at $39.17 on Friday. 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 capitalization of $24.99 billion, a price-to-earnings ratio of 42.12, a PEG ratio of 0.76 and a beta of 2.09. On Holding AG has a 12-month low of $31.41 and a 12-month high of $61.29. The firm’s 50-day moving average price is $35.95 and its two-hundred day moving average price is $41.77.

Insiders Place Their Bets

In other 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 value of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the chief executive officer directly 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. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is currently owned by insiders.

ON 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.