Geode Capital Management LLC Buys 67,239 Shares of On Holding AG $ONON

Geode Capital Management LLC increased its stake in shares of On Holding AG (NYSE:ONON) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,490,827 shares of the company’s stock after buying an additional 67,239 shares during the quarter. Geode Capital Management LLC’s holdings in ON were worth $69,294,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Sands Capital Management LLC grew its holdings in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after buying an additional 2,155,083 shares in the last quarter. Bamco Inc. NY grew its holdings in ON by 14.7% during the third quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock worth $201,017,000 after buying an additional 606,579 shares in the last quarter. American Century Companies Inc. grew its holdings in ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after buying an additional 1,026,804 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. bought a new stake in ON during the fourth quarter worth $142,425,000. Institutional investors own 36.39% of the company’s stock.

Insider Transactions at ON

In other news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838.

ON Stock Up 0.1%

Shares of NYSE:ONON opened at $37.11 on Tuesday. The company has a market capitalization of $23.68 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 0.72 and a beta of 2.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The business has a fifty day moving average price of $36.16 and a two-hundred day moving average price of $41.82. On Holding AG has a 1 year low of $31.41 and a 1 year high of $58.08.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts forecast that On Holding AG will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ONON shares. 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 report on Tuesday, May 12th. Zacks Research downgraded ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Evercore set a $42.00 price objective on ON in a research note on Tuesday, May 12th. Finally, UBS Group restated a “buy” rating on shares of ON in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

ON 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.