APEIRON CAPITAL Ltd Buys 200,200 Shares of On Holding AG $ONON

Key Points

• APEIRON CAPITAL Ltd boosted its stake in On Holding AG by 25.2% in the first quarter, buying 200,200 more shares and bringing its total to 996,052 shares. The position was valued at about $33.9 million and represented the fund’s largest holding.
• On Holding’s latest quarterly results beat expectations, with EPS of $0.46 versus $0.35 expected and revenue of $1.04 billion, up 14.5% year over year. Analysts still expect the company to earn about 1.5 per share for the full year.
• Wall Street sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $55.05. However, some firms recently trimmed their targets, and insider trading has been mixed, with one CEO sale and another CEO purchase in recent weeks.

APEIRON CAPITAL Ltd increased its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 996,052 shares of the company's stock after purchasing an additional 200,200 shares during the quarter. ON makes up about 31.7% of APEIRON CAPITAL Ltd's investment portfolio, making the stock its biggest holding. APEIRON CAPITAL Ltd owned 0.16% of ON worth $33,886,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ONON. Morgan Stanley boosted its position in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company's stock worth $1,121,092,000 after acquiring an additional 6,997,455 shares in the last quarter. Platinum Paramount Investment LTD. bought a new position in shares of ON in the 4th quarter valued at $525,784,000. Sinvest Investments II Ltd. acquired a new stake in shares of ON during the 4th quarter valued at $390,432,000. Sands Capital Management LLC grew its position in ON by 46.7% during the 3rd 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 during the last quarter. Finally, Bamco Inc. NY grew its position in ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company's stock worth $251,247,000 after acquiring an additional 658,933 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock opened at $37.09 on Friday. The firm has a 50 day moving average of $37.28 and a 200-day moving average of $41.23. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 0.70 and a beta of 2.10. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. On Holding AG has a 52 week low of $31.41 and a 52 week high of $55.95.

ON (NYSE:ONON - Get Free Report) last posted its quarterly 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. ON had a net margin of 7.92% and a return on equity of 15.72%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $0.21 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that On Holding AG will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Martin Hoffmann sold 4,150 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the transaction, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann bought 60,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer owned 2,841,108 shares of the company's stock, valued at $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 16,600 shares valued at $580,710. 68.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ONON. Raymond James Financial upgraded shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 target price on the stock in a research report on Thursday, April 23rd. Needham & Company LLC dropped their price target on shares of ON from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. 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, May 12th. Telsey Advisory Group decreased their price objective on ON from $60.00 to $51.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research lowered ON from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to 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.

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