On Holding AG $ONON Shares Acquired by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management boosted its stake in On Holding AG by 117.6% in the fourth quarter, ending with 118,661 shares valued at about $5.5 million.
• Institutional interest remains strong, with several large investors adding positions and hedge funds/institutions owning 36.39% of the stock.
• Insider buying was notable: both insider Olivier Bernhard and CEO David Michael Allemann bought 60,000 shares each at $36.63, while analysts currently rate the stock a Moderate Buy with a consensus price target of $55.05.

Rockefeller Capital Management L.P. increased its position in On Holding AG (NYSE:ONON - Free Report) by 117.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,661 shares of the company's stock after purchasing an additional 64,138 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in ON were worth $5,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Platinum Paramount Investment LTD. acquired a new position in ON in the 4th quarter worth $525,784,000. Sinvest Investments II Ltd. acquired a new stake in shares of ON during the fourth quarter valued at about $390,432,000. Morgan Stanley increased its position in shares of ON by 40.9% during the fourth 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 during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of ON during the fourth quarter worth about $142,425,000. Finally, Norges Bank purchased a new stake in shares of ON during the fourth quarter worth about $128,826,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ONON shares. Sanford C. Bernstein reissued an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Evercore set a $42.00 price objective on ON in a report on Tuesday, May 12th. Telsey Advisory Group reduced their target price on ON from $60.00 to $51.00 and set an "outperform" 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 target for the company in a research report on Thursday, April 23rd. Finally, Barclays dropped 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.05.

Insider Buying and Selling at ON

In other ON news, insider Olivier Bernhard acquired 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Michael Allemann acquired 60,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 16,600 shares valued at $580,710. Company insiders own 68.57% of the company's stock.

ON Price Performance

Shares of ONON opened at $37.09 on Friday. On Holding AG has a 52 week low of $31.41 and a 52 week 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. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 0.69 and a beta of 2.10. The stock has a 50 day moving average of $37.28 and a 200-day moving average of $41.23.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.21 EPS. The business's revenue was up 14.5% compared to the same quarter last year. As a group, analysts forecast that On Holding AG will post 1.5 EPS for the current year.

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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