Zevenbergen Capital Investments LLC Sells 130,801 Shares of On Holding AG $ONON

Key Points

• Zevenbergen Capital Investments reduced its On Holding position by 34.7%, selling 130,801 shares and retaining 246,670 shares valued at approximately $7.3 million.
• On Holding shares rose 2.3% to $33.97, while the company’s latest quarterly results missed analyst expectations on both earnings and revenue despite 13.5% year-over-year revenue growth.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $43.17, while insiders—including the CEO and co-founder—each purchased 65,000 shares.

Zevenbergen Capital Investments LLC lessened its position in shares of On Holding AG (NYSE:ONON - Free Report) by 34.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,670 shares of the company's stock after selling 130,801 shares during the quarter. Zevenbergen Capital Investments LLC's holdings in ON were worth $7,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ONON. Wellington Management Group LLP raised its stake in shares of ON by 2.3% in the 2nd quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company's stock valued at $97,462,000 after buying an additional 62,404 shares in the last quarter. Quantinno Capital Management LP raised its stake in ON by 89.6% during the first quarter. Quantinno Capital Management LP now owns 66,947 shares of the company's stock worth $2,278,000 after acquiring an additional 31,641 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of ON in the 1st quarter worth about $5,694,000. Franklin Resources Inc. increased its position in shares of ON by 40.5% during the 4th quarter. Franklin Resources Inc. now owns 2,126,297 shares of the company's stock worth $98,830,000 after purchasing an additional 613,063 shares in the last quarter. Finally, Ogborne Capital Management LLC lifted its holdings in ON by 34.2% during the 4th quarter. Ogborne Capital Management LLC now owns 845,549 shares of the company's stock valued at $39,301,000 after purchasing an additional 215,549 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Trading Up 2.3%

Shares of NYSE:ONON traded up $0.75 during midday trading on Thursday, hitting $33.97. The company had a trading volume of 13,769,865 shares, compared to its average volume of 6,962,072. The firm has a fifty day simple moving average of $30.68 and a 200 day simple moving average of $34.53. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.65 and a beta of 2.08. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. On Holding AG has a 12 month low of $26.36 and a 12 month high of $51.08.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned ($0.09) earnings per share. The business's revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that On Holding AG will post 1.51 EPS for the current year.

Insiders Place Their Bets

In other news, insider Olivier Bernhard acquired 65,000 shares of ON stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the insider directly owned 5,228,184 shares of the company's stock, valued at approximately $160,348,403.28. This represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Caspar Coppetti bought 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the chief executive officer directly owned 2,440,855 shares of the company's stock, valued at $74,861,022.85. The trade was a 2.74% increase in their position. The SEC filing for this purchase provides additional information. 68.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of recent analyst reports. Evercore set a $40.00 price target on ON in a report on Wednesday, August 12th. Morgan Stanley initiated coverage on shares of ON in a research report on Thursday, September 10th. They set an "overweight" rating and a $39.00 price target on the stock. Wall Street Zen lowered shares of ON from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Capital One Financial set a $28.00 target price on shares of ON in a research note on Tuesday, September 8th. Finally, Stifel Nicolaus reduced their target price on shares of ON from $60.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ON presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.17.

ON Profile

On Holding AG, trading on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company focused on performance footwear, apparel and accessories. The company serves athletes and active consumers with products designed for running, training, outdoor activities and everyday wear.

On is best known for its running shoes, which incorporate the company's CloudTec cushioning technology and distinctive sole designs. Its product portfolio also includes athletic clothing, apparel and accessories, with offerings positioned across both performance and lifestyle categories.

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