SG Americas Securities LLC Purchases 731,067 Shares of On Holding AG $ONON

Key Points

• SG Americas Securities LLC boosted its stake in On Holding AG by 489.8% in the first quarter, adding 731,067 shares and bringing its total holding to 880,329 shares valued at about $29.9 million.
• Insider trading was mixed: CEO Caspar Felix Coppetti bought 60,000 shares, while CEO Martin Hoffmann sold 4,150 shares under a pre-arranged trading plan. Overall, insiders bought more than they sold over the past three months.
• On Holding reported better-than-expected quarterly results, with EPS of $0.46 versus $0.35 expected and revenue of $1.04 billion slightly above estimates. Despite the beat, the stock was down about 2.8%, and analysts currently have a Moderate Buy consensus with a $55.05 price target.

SG Americas Securities LLC increased its position in shares of On Holding AG (NYSE:ONON - Free Report) by 489.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 880,329 shares of the company's stock after acquiring an additional 731,067 shares during the period. SG Americas Securities LLC owned approximately 0.14% of ON worth $29,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. raised its position in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after buying an additional 467 shares in the last quarter. Caitlin John LLC bought a new position in ON in the 4th quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock valued at $33,000 after acquiring an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock valued at $37,000 after acquiring an additional 421 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Caspar Felix Coppetti purchased 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer directly owned 2,375,855 shares of the company's stock, valued at $87,051,327.20. This represents a 2.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The shares were 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 of the company's stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In 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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONON. Telsey Advisory Group decreased their price objective on shares of ON from $60.00 to $51.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Evercore set a $42.00 price target on shares of ON in a report on Tuesday, May 12th. Truist Financial lowered their price objective on shares of ON from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Needham & Company LLC dropped their price objective on shares of ON from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Finally, KeyCorp cut their target price on shares of ON from $58.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.05.

ON Trading Down 2.8%

Shares of ONON stock opened at $35.18 on Wednesday. The stock has a market capitalization of $22.45 billion, a PE ratio of 37.83, a P/E/G ratio of 0.70 and a beta of 2.10. On Holding AG has a 1-year low of $31.41 and a 1-year high of $55.95. The business has a 50-day moving average of $37.17 and a 200 day moving average of $41.41. 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 announced its quarterly earnings results 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 return on equity of 15.72% and a net margin of 7.92%.The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, sell-side analysts anticipate that On Holding AG will post 1.47 earnings per share 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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