Red Spruce Capital LLC Has $2.13 Million Stock Position in On Holding AG $ONON

Red Spruce Capital LLC boosted its holdings in On Holding AG (NYSE:ONON) by 40.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,114 shares of the company’s stock after buying an additional 17,445 shares during the period. Red Spruce Capital LLC’s holdings in ON were worth $2,129,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. increased its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. Caitlin John LLC bought a new stake in ON in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC grew its position in ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 4th quarter worth $27,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO David Michael Allemann bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the purchase, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 180,000 shares of company stock worth $6,594,000 over the last quarter. Company insiders own 68.57% of the company’s stock.

ON Trading Down 2.3%

Shares of ONON stock opened at $37.31 on Friday. The firm has a fifty day moving average of $37.40 and a 200-day moving average of $39.01. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 40.12, a P/E/G ratio of 0.71 and a beta of 2.12. On Holding AG has a 52-week low of $31.41 and a 52-week high of $52.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. On average, equities research analysts forecast that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ONON. Needham & Company LLC cut their price objective 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. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Evercore set a $42.00 price target on ON in a research note on Tuesday, May 12th. Wall Street Zen cut ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, UBS Group reduced their price objective on ON from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

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.