On Holding AG $ONON Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its position in On Holding AG (NYSE:ONON) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,670 shares of the company’s stock after selling 130,801 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in ON were worth $7,304,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC increased its holdings in shares of ON by 14.2% during the third quarter. Gradient Investments LLC now owns 74,013 shares of the company’s stock worth $2,192,000 after purchasing an additional 9,214 shares during the period. City Center Advisors LLC raised its holdings in ON by 5.2% in the 3rd quarter. City Center Advisors LLC now owns 8,675 shares of the company’s stock valued at $257,000 after acquiring an additional 429 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of ON during the 2nd quarter valued at $223,000. Capital Analysts LLC lifted its position in shares of ON by 15.5% during the 2nd quarter. Capital Analysts LLC now owns 6,049 shares of the company’s stock valued at $214,000 after acquiring an additional 810 shares during the period. Finally, NewEdge Advisors LLC grew its stake in ON by 26.8% during the second quarter. NewEdge Advisors LLC now owns 25,494 shares of the company’s stock worth $903,000 after buying an additional 5,394 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Up 2.3%

Shares of ON stock traded up $0.75 during trading on Thursday, hitting $33.97. The company’s stock had a trading volume of 13,769,865 shares, compared to its average volume of 6,962,072. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 0.65 and a beta of 2.08. On Holding AG has a 52 week low of $26.36 and a 52 week high of $51.08. The stock has a 50-day moving average price of $30.68 and a two-hundred day moving average price of $34.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) earnings per share. Equities research analysts anticipate that On Holding AG will post 1.51 EPS for the current fiscal year.

Insider Activity at ON

In other news, insider Olivier Bernhard acquired 65,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. This represents a 1.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ONON shares. KeyCorp reissued an “overweight” rating on shares of ON in a research note on Monday, September 28th. Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Morgan Stanley began coverage on shares of ON in a research note on Thursday, September 10th. They set an “overweight” rating and a $39.00 target price on the stock. William Blair downgraded shares of ON from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Finally, UBS Group reissued a “buy” rating on shares of ON in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

ON Profile

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company’s CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.