ING Groep NV Takes $1.53 Million Position in On Holding AG $ONON

ING Groep NV acquired a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,800 shares of the company's stock, valued at approximately $1,525,000.

Several other hedge funds have also recently modified their holdings of ONON. Bison Wealth LLC increased its holdings in shares of ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock valued at $509,000 after acquiring an additional 2,442 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of ON during the second quarter valued at about $517,000. Invesco Ltd. increased its holdings in shares of ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company's stock valued at $8,186,000 after acquiring an additional 118,498 shares in the last quarter. Cresset Asset Management LLC increased its holdings in shares of ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company's stock valued at $376,000 after acquiring an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of ON by 91.7% during the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company's stock valued at $139,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Insider Activity

In other news, CEO David Michael Allemann acquired 60,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the chief executive officer directly owned 2,841,108 shares of the company's stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838.

Analysts Set New Price Targets

ONON has been the topic of several recent analyst reports. Raymond James Financial upgraded shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 price objective on the stock in a report on Thursday, April 23rd. UBS Group reiterated a "buy" rating on shares of ON in a report on Thursday, February 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Telsey Advisory Group cut their price target 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. Finally, 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, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.05.

ON Price Performance

Shares of NYSE ONON opened at $38.20 on Wednesday. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 0.72 and a beta of 2.10. On Holding AG has a 12 month low of $31.41 and a 12 month high of $58.08. The firm's 50 day simple moving average is $36.28 and its 200-day simple moving average is $41.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. Analysts expect that On Holding AG will post 1.47 EPS for the current year.

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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