On Holding AG $ONON Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in shares of On Holding AG (NYSE:ONON) by 40.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,653 shares of the company’s stock after selling 203,056 shares during the period. Sei Investments Co.’s holdings in ON were worth $10,092,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in shares of ON by 639.7% in the fourth 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 last quarter. Caitlin John LLC acquired a new position in ON during the fourth quarter worth approximately $25,000. MidAtlantic Capital Management Inc. acquired a new position in ON during the fourth quarter worth approximately $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 purchasing an additional 594 shares during the period. Finally, Ascentis Independent Advisors purchased a new position in ON during the first quarter worth approximately $34,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ON news, CEO David Michael Allemann purchased 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Olivier Bernhard purchased 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. This represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 180,000 shares of company stock valued at $6,594,000. Company insiders own 68.57% of the company’s stock.

ON Trading Down 2.1%

NYSE ONON opened at $36.34 on Friday. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 0.68 and a beta of 2.12. 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 one year low of $31.41 and a one year high of $52.20. The company’s 50 day moving average price is $37.56 and its 200 day moving average price is $39.30.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. ON’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts predict that On Holding AG will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ONON. Telsey Advisory Group lowered their price objective on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Barclays cut their target price on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Truist Financial lowered 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. Finally, Zacks Research upgraded ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

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.