On Holding AG $ONON Holdings Cut by Bessemer Group Inc.

Bessemer Group Inc. lowered its holdings in shares of On Holding AG (NYSE:ONON) by 6.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,130,842 shares of the company’s stock after selling 80,744 shares during the period. Bessemer Group Inc.’s holdings in ON were worth $52,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Allworth Financial LP raised its holdings in shares of ON by 38.1% during the 4th quarter. Allworth Financial LP now owns 5,455 shares of the company’s stock valued at $254,000 after purchasing an additional 1,505 shares in the last quarter. Rollins Financial Advisors LLC bought a new position in shares of ON during the 4th quarter valued at $208,000. NewEdge Wealth LLC bought a new position in shares of ON during the 4th quarter valued at $326,000. RFG Advisory LLC bought a new position in shares of ON during the 4th quarter valued at $1,343,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock valued at $8,320,000 after purchasing an additional 62,500 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of ONON opened at $37.21 on Friday. The company has a market capitalization of $23.75 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 0.74 and a beta of 2.09. On Holding AG has a one year low of $31.41 and a one year high of $61.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.13. The company’s fifty day moving average price is $36.24 and its 200 day moving average price is $41.79.

Wall Street Analyst Weigh In

ONON has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday. Zacks Research downgraded shares of ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. Barclays cut their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Insider Activity

In other news, CEO Caspar Felix Coppetti bought 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased 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 directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Michael Allemann bought 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 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 currently owned by company insiders.

ON Company 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.