Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in On Holding AG $ONON

Key Points

• Zurcher Kantonalbank raised its stake in On Holding AG by 2,572.1%, purchasing an additional 801,661 shares to hold 832,829 shares (about 0.13% of the company) valued at roughly $38.71 million per its latest 13F filing.
• Analysts have a consensus rating of Moderate Buy on ON with a consensus price target of $58.62, significantly above the recent trading level near $37.30.
• CEO Martin Hoffmann sold 4,150 shares at an average price of $33.95 under a pre-arranged Rule 10b5-1 plan, and insiders sold 12,450 shares (≈$445,378) over the last quarter.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of On Holding AG (NYSE:ONON - Free Report) by 2,572.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 832,829 shares of the company's stock after buying an additional 801,661 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.13% of ON worth $38,710,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. United Financial Planning Group LLC purchased a new stake in ON during the third quarter valued at about $42,000. Horizon Investments LLC purchased a new position in shares of ON in the 3rd quarter worth about $44,000. GAMMA Investing LLC lifted its stake 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 valued at $46,000 after purchasing an additional 1,060 shares in the last quarter. Signaturefd LLC lifted its stake in shares of ON by 137.4% in the 4th quarter. Signaturefd LLC now owns 1,244 shares of the company's stock valued at $58,000 after purchasing an additional 720 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of ON during the 4th quarter worth about $62,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stifel Nicolaus set a $58.00 price target on shares of ON in a report on Tuesday, March 3rd. BTIG Research reiterated a "buy" rating and set a $70.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Evercore set a $45.00 price objective on shares of ON and gave the stock an "outperform" rating in a research report on Friday, March 27th. Barclays reduced their target price on shares of ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of ON in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.62.

ON Trading Up 1.0%

Shares of ONON opened at $37.30 on Tuesday. On Holding AG has a one year low of $31.41 and a one year high of $61.29. The stock has a 50-day moving average price of $39.82 and a 200 day moving average price of $42.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The company has a market capitalization of $23.80 billion, a P/E ratio of 51.81, a P/E/G ratio of 0.74 and a beta of 2.23.

Insider Activity

In other news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $33.95, for a total transaction of $140,892.50. Following the completion of the transaction, the chief executive officer directly owned 1,393,399 shares in the company, valued at approximately $47,305,896.05. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 12,450 shares of company stock valued at $445,378.

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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