Qsemble Capital Management LP Purchases 54,741 Shares of On Holding AG $ONON

Qsemble Capital Management LP lifted its holdings in On Holding AG (NYSE:ONON) by 298.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,061 shares of the company’s stock after acquiring an additional 54,741 shares during the quarter. Qsemble Capital Management LP’s holdings in ON were worth $3,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bison Wealth LLC boosted its stake in ON by 35.7% in the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of ON in the second quarter valued at $517,000. Invesco Ltd. raised its holdings in shares of ON by 305.5% in the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock valued at $8,186,000 after buying an additional 118,498 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of ON by 13.5% in the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after buying an additional 860 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in ON by 91.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after buying an additional 1,273 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ONON. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Needham & Company LLC reduced their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Truist Financial decreased their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. Evercore set a $42.00 price target on shares of ON in a report on Tuesday. Finally, UBS Group restated a “buy” rating on shares of ON in a research report on Thursday, February 19th. Two investment 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 given a Sell rating to the company. According to data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

ON Stock Performance

ONON stock opened at $37.21 on Friday. The business’s fifty day moving average is $36.24 and its 200-day moving average is $41.79. The company has a quick ratio of 2.13, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $23.75 billion, a P/E ratio of 40.01, a price-to-earnings-growth ratio of 0.75 and a beta of 2.09. On Holding AG has a twelve month low of $31.41 and a twelve month high of $61.29.

Insider Buying and Selling

In related news, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were 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 insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This represents a 1.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. The trade was a 2.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. 68.57% of the stock is owned by insiders.

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.