Bank Julius Baer & Co. Ltd Zurich Sells 18,805 Shares of On Holding AG $ONON

Bank Julius Baer & Co. Ltd Zurich decreased its position in On Holding AG (NYSE:ONON) by 23.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,135 shares of the company’s stock after selling 18,805 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in ON were worth $2,842,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after buying an additional 62,500 shares during the last quarter. Great Point Wealth Advisors LLC purchased a new position in ON in the 3rd quarter worth about $1,607,000. Robinhood Asset Management LLC purchased a new position in ON in the 4th quarter worth about $4,747,000. Sands Capital Management LLC raised its position in ON by 46.7% in the 3rd 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 during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in ON by 34.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 680,646 shares of the company’s stock worth $28,825,000 after buying an additional 175,255 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 the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann purchased 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were acquired 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 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. Over the last 90 days, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. 68.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC decreased their target price on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Guggenheim reissued a “buy” rating and issued a $51.00 target price on shares of ON in a research report on Wednesday. Evercore set a $42.00 target price on ON in a research report on Tuesday. Stifel Nicolaus set a $58.00 target price on ON in a research report on Tuesday, March 3rd. Finally, UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Price Performance

NYSE ONON opened at $37.21 on Friday. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The firm has a market capitalization of $23.75 billion, a P/E ratio of 40.01, a PEG ratio of 0.74 and a beta of 2.09. The company has a quick ratio of 2.13, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $36.24 and a 200-day moving average price of $41.79.

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.