102,130 Shares in On Holding AG $ONON Bought by Robinhood Asset Management LLC

Key Points

• Robinhood Asset Management bought a new stake of 102,130 shares in On Holding AG (NYSE:ONON) in Q4, valued at approximately $4.75 million.
• Analysts give ON a consensus rating of Moderate Buy with an average target of $59.24, while the stock opened at $33.59 and trades well below its 52‑week high of $61.29.
• Company insiders collectively own 68.57% of the stock, and CEO Martin Hoffmann recently sold 4,150 shares at about $39.79, a 0.30% reduction in his position.

Robinhood Asset Management LLC bought a new stake in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 102,130 shares of the company's stock, valued at approximately $4,747,000.

Several other hedge funds also recently modified their holdings of the stock. Sands Capital Management LLC raised its holdings in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company's stock worth $286,685,000 after acquiring an additional 2,155,083 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of ON during the 2nd quarter worth approximately $248,113,000. Bamco Inc. NY raised its stake in shares of ON by 14.7% during the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company's stock worth $201,017,000 after purchasing an additional 606,579 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company's stock worth $171,876,000 after purchasing an additional 365,907 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of ON by 44.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company's stock valued at $138,865,000 after buying an additional 1,026,804 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONON. Barclays lowered their target price on shares of ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price objective on shares of ON in a research report on Thursday, February 26th. Williams Trading lowered shares of ON from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $55.00 to $47.00 in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of ON in a report on Thursday, January 22nd. Finally, Evercore set a $58.00 price target on ON and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, ON presently has a consensus rating of "Moderate Buy" and an average target price of $59.24.

ON Price Performance

NYSE:ONON opened at $33.59 on Tuesday. The company has a market cap of $21.43 billion, a P/E ratio of 46.65, a P/E/G ratio of 0.66 and a beta of 2.23. The firm's fifty day moving average price is $41.74 and its two-hundred day moving average price is $43.21. 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 0.27, a current ratio of 2.71 and a quick ratio of 2.13.

Insider Buying and Selling

In related news, CEO Martin Hoffmann sold 4,150 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.79, for a total value of $165,128.50. Following the transaction, the chief executive officer owned 1,357,020 shares in the company, valued at approximately $53,995,825.80. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 68.57% of the company's stock.

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.

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