On Holding AG $ONON Position Raised by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its position in shares of On Holding AG (NYSE:ONON) by 117.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 118,661 shares of the company’s stock after purchasing an additional 64,138 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ON were worth $5,515,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ONON. Cullen Frost Bankers Inc. increased its holdings in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. Caitlin John LLC bought a new stake in ON in the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in ON during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 during the period. Finally, TD Private Client Wealth LLC grew its position in ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Insider Buying and Selling at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred 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 owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann acquired 60,000 shares of the 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 purchase, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. The trade was a 2.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 16,600 shares worth $580,710. Corporate insiders own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ONON. Needham & Company LLC dropped their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Truist Financial lowered their target price on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen raised ON from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. Two research 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 given a Sell rating to the stock. According to MarketBeat, ON has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Trading Up 1.4%

Shares of ON stock opened at $37.09 on Friday. The business has a fifty day simple moving average of $37.28 and a 200-day simple moving average of $41.23. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $55.95. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 0.69 and a beta of 2.10. 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 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 analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.21 earnings per share. ON’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that On Holding AG will post 1.5 EPS for the current fiscal year.

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.