Sands Capital Management LLC Cuts Stock Holdings in On Holding AG $ONON

Sands Capital Management LLC trimmed its position in shares of On Holding AG (NYSE:ONON) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,635,050 shares of the company’s stock after selling 134,380 shares during the quarter. ON makes up about 0.9% of Sands Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Sands Capital Management LLC’s holdings in ON were worth $308,397,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ONON. Cullen Frost Bankers Inc. increased its holdings in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 594 shares in the last quarter. TD Private Client Wealth LLC increased its holdings 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 purchasing an additional 421 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in shares of ON by 88.9% during the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock valued at $40,000 after purchasing an additional 400 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Up 0.1%

Shares of ONON opened at $38.60 on Monday. On Holding AG has a 52-week low of $31.41 and a 52-week high of $55.95. The stock has a market cap of $24.63 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.75 and a beta of 2.10. The firm’s fifty day moving average is $36.58 and its two-hundred day moving average is $41.74. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts forecast that On Holding AG will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ONON. BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, March 3rd. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Thursday, April 23rd. Guggenheim reissued a “buy” rating and issued a $51.00 price target on shares of ON in a report on Wednesday, May 13th. Truist Financial cut their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

Insider Buying and Selling at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the company’s 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 completion of the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann bought 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838.

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.