Platinum Paramount Investment LTD. bought 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 disclosure with the Securities and Exchange Commission. The firm bought 11,312,048 shares of the company's stock, valued at approximately $525,784,000. ON makes up about 65.2% of Platinum Paramount Investment LTD.'s portfolio, making the stock its biggest position. Platinum Paramount Investment LTD. owned approximately 1.80% of ON at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company's stock valued at $8,320,000 after buying an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC purchased a new position in shares of ON in the 4th quarter worth approximately $4,747,000. Sands Capital Management LLC raised its stake in shares of 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 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 acquiring an additional 365,907 shares in the last quarter. Finally, One Capital Management LLC purchased a new stake in ON during the fourth quarter valued at approximately $8,887,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ONON. BTIG Research reaffirmed a "buy" rating and set a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Weiss Ratings raised ON from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Sanford C. Bernstein reissued an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Truist Financial decreased their price objective on shares of ON from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Finally, Evercore set a $42.00 target price on shares of ON in a research report on Tuesday, May 12th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average price target of $55.05.
Read Our Latest Analysis on ON
ON Stock Down 0.2%
ON stock opened at $38.82 on Friday. The business's 50-day simple moving average is $37.10 and its two-hundred day simple moving average is $41.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The company has a market cap of $24.77 billion, a PE ratio of 41.74, a PEG ratio of 0.76 and a beta of 2.10. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $55.95.
ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Equities analysts anticipate that On Holding AG will post 1.47 EPS for the current year.
Insider Buying and Selling at ON
In other ON news, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Michael Allemann purchased 60,000 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by insiders.
ON Company Profile
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Free Report)
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.
Further Reading
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