Pictet Asset Management Holding SA Has $25.04 Million Stock Holdings in On Holding AG $ONON

Pictet Asset Management Holding SA decreased its stake in On Holding AG (NYSE:ONON) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 736,025 shares of the company’s stock after selling 25,494 shares during the period. Pictet Asset Management Holding SA’s holdings in ON were worth $25,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Morgan Stanley raised its position in shares of ON by 40.9% during the fourth 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 during the last quarter. Platinum Paramount Investment LTD. bought a new stake in shares of ON in the 4th quarter worth approximately $525,784,000. Sinvest Investments II Ltd. bought a new position in ON in the fourth quarter worth $390,432,000. Sands Capital Management LLC boosted its stake in 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 buying an additional 2,155,083 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings 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 period. Institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore set a $42.00 price objective on shares of ON in a report on Tuesday, May 12th. KeyCorp lowered their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Needham & Company LLC dropped their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Barclays cut their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating and set a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

ON Trading Up 0.5%

NYSE:ONON opened at $35.61 on Thursday. The business’s 50-day moving average price is $37.21 and its two-hundred day moving average price is $40.92. On Holding AG has a 1-year low of $31.41 and a 1-year high of $55.95. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 0.66 and a beta of 2.12. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The firm 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 business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, equities analysts expect that On Holding AG will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann acquired 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the chief executive officer 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. Over the last quarter, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 16,600 shares worth $580,710. 68.57% of the stock is owned by company 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.