SG Americas Securities LLC Acquires 731,067 Shares of On Holding AG $ONON

SG Americas Securities LLC lifted its holdings in shares of On Holding AG (NYSE:ONON) by 489.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 880,329 shares of the company’s stock after acquiring an additional 731,067 shares during the quarter. SG Americas Securities LLC’s holdings in ON were worth $29,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. purchased a new stake in shares of ON in the 4th quarter worth about $212,000. Rockefeller Capital Management L.P. raised its stake in ON by 117.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 118,661 shares of the company’s stock worth $5,515,000 after buying an additional 64,138 shares in the last quarter. World Investment Advisors purchased a new stake in ON in the fourth quarter worth about $207,000. PeakShares LLC purchased a new stake in ON in the fourth quarter worth about $564,000. Finally, SHP Wealth Management bought a new stake in ON during the 4th quarter valued at approximately $333,000. Institutional investors own 36.39% of the company’s stock.

Insider Transactions at ON

In other news, CEO David Michael Allemann acquired 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. The trade was a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 180,000 shares of company stock valued at $6,594,000 and have sold 16,600 shares valued at $580,710.

ON Stock Down 2.8%

ON stock opened at $35.18 on Wednesday. The firm has a market cap of $22.45 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 0.70 and a beta of 2.10. The stock has a fifty day simple moving average of $37.17 and a two-hundred day simple moving average of $41.41. On Holding AG has a 12 month low of $31.41 and a 12 month high of $55.95. 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 released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.ON’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Equities analysts predict that On Holding AG will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

ONON has been the subject of a number of research analyst reports. Guggenheim restated a “buy” rating and issued a $51.00 target price on shares of ON in a research note on Wednesday, May 13th. Telsey Advisory Group dropped their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Barclays decreased 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. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

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.