Lido Advisors LLC Sells 24,666 Shares of On Holding AG $ONON

Lido Advisors LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 46.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 28,580 shares of the company’s stock after selling 24,666 shares during the period. Lido Advisors LLC’s holdings in ON were worth $972,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its position in shares of ON by 639.7% during the fourth 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. Caitlin John LLC bought a new position in ON in the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in ON in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its holdings in ON by 555.1% in 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 in the last quarter. Finally, Ascentis Independent Advisors purchased a new position in ON during the first quarter valued at $34,000. Institutional investors own 36.39% of the company’s stock.

Insider Transactions at ON

In other ON news, CEO David Michael Allemann purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Olivier Bernhard acquired 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider directly owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 180,000 shares of company stock worth $6,594,000 over the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on ONON. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Truist Financial decreased their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Raymond James Financial raised 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. Guggenheim restated a “buy” rating and issued a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Finally, Evercore set a $42.00 target price on shares of ON in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.79.

ON Stock Up 2.3%

Shares of ON stock opened at $37.93 on Wednesday. The stock has a market capitalization of $24.20 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 0.69 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. The company has a 50-day simple moving average of $37.67 and a two-hundred day simple moving average of $39.49. On Holding AG has a 52-week low of $31.41 and a 52-week high of $52.41.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts anticipate that On Holding AG will post 1.5 EPS for the current fiscal year.

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.