On Holding AG $ONON Holdings Trimmed by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its position in shares of On Holding AG (NYSE:ONON) by 26.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 67,225 shares of the company’s stock after selling 23,691 shares during the period. Thornburg Investment Management Inc.’s holdings in ON were worth $3,125,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in ON by 54.5% during the fourth 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 acquired a new position in shares of ON in the 4th quarter valued at $4,747,000. Sands Capital Management LLC boosted its position in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after purchasing an additional 2,155,083 shares during the period. American Century Companies Inc. boosted its position in shares of ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after purchasing an additional 365,907 shares during the period. Finally, One Capital Management LLC acquired a new position in shares of ON in the 4th quarter valued at $8,887,000. Institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ONON shares. Guggenheim reiterated a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Truist Financial decreased their price target on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Needham & Company LLC decreased their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Telsey Advisory Group decreased their price target on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.05.

ON Stock Up 0.2%

Shares of ONON stock opened at $38.66 on Tuesday. The stock’s 50 day simple moving average is $36.69 and its 200 day simple moving average is $41.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. On Holding AG has a twelve month low of $31.41 and a twelve month high of $55.95. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 0.75 and a beta of 2.10.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $0.21 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that On Holding AG will post 1.47 EPS for the current year.

Insiders Place Their Bets

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard bought 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 acquisition, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838.

About ON

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.