On Holding AG $ONON is Towarzystwo Funduszy Inwestycyjnych PZU SA’s 4th Largest Position

Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in On Holding AG (NYSE:ONON) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 426,716 shares of the company’s stock after purchasing an additional 43,174 shares during the quarter. ON makes up approximately 5.0% of Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings, making the stock its 4th biggest holding. Towarzystwo Funduszy Inwestycyjnych PZU SA owned about 0.07% of ON worth $19,834,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in shares of ON by 639.7% in 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. acquired a new stake in shares of ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its stake in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the period. TD Private Client Wealth LLC raised its stake in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after acquiring an additional 421 shares during the period. Finally, Bogart Wealth LLC raised its stake in ON by 88.9% during the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON opened at $37.21 on Monday. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 0.75 and a beta of 2.09. The company has a 50-day moving average price of $36.24 and a two-hundred day moving average price of $41.79.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ONON shares. 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. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Evercore set a $42.00 price objective on shares of ON in a research note on Tuesday, May 12th. Finally, UBS Group reiterated a “buy” rating on shares of ON in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Insider Activity at ON

In related news, insider Olivier Bernhard acquired 60,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the insider directly owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. Corporate insiders own 68.57% of the company’s stock.

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.