On Holding AG $ONON Stock Holdings Lifted by Impax Asset Management Group plc

Key Points

• Impax Asset Management boosted its stake in On Holding AG (ONON) by 79.8% in Q4, buying 40,935 shares to hold 92,209 shares valued at about $4.29 million.
• Analysts collectively rate ONON a "Moderate Buy" with a consensus target of $58.48, although several firms recently cut price targets while keeping buy ratings.
• CEO Martin Hoffmann sold 4,150 shares under a pre-arranged 10b5-1 plan; insiders have sold 16,600 shares in the past 90 days but still reportedly own about 68.57% of the stock.

Impax Asset Management Group plc lifted its holdings in On Holding AG (NYSE:ONON - Free Report) by 79.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 92,209 shares of the company's stock after buying an additional 40,935 shares during the quarter. Impax Asset Management Group plc's holdings in ON were worth $4,286,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. United Financial Planning Group LLC acquired a new stake in shares of ON in the 3rd quarter worth about $42,000. Horizon Investments LLC acquired a new stake in shares of ON in the 3rd quarter worth about $44,000. GAMMA Investing LLC increased its holdings in shares of ON by 5,888.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company's stock worth $46,000 after acquiring an additional 1,060 shares during the period. Signaturefd LLC increased its holdings in shares of ON by 137.4% in the 4th quarter. Signaturefd LLC now owns 1,244 shares of the company's stock worth $58,000 after acquiring an additional 720 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of ON in the 4th quarter worth about $62,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of ON from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. UBS Group reaffirmed a "buy" rating on shares of ON in a report on Thursday, February 19th. Stifel Nicolaus set a $58.00 price objective on shares of ON in a report on Tuesday, March 3rd. KeyCorp reaffirmed an "overweight" rating on shares of ON in a report on Wednesday, March 4th. Finally, Guggenheim dropped their price objective on shares of ON from $59.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.48.

ON Stock Up 0.1%

ON stock opened at $36.24 on Friday. The stock has a market cap of $23.13 billion, a price-to-earnings ratio of 50.34, a PEG ratio of 0.73 and a beta of 2.23. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The company's 50-day moving average price is $39.14 and its two-hundred day moving average price is $42.42. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29.

Insider Buying and Selling

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the firm's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $36.56, for a total transaction of $151,724.00. Following the transaction, the chief executive officer owned 1,389,249 shares of the company's stock, valued at approximately $50,790,943.44. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,600 shares of company stock worth $597,102. 68.57% of the stock is currently owned by company insiders.

ON 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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