Towarzystwo Funduszy Inwestycyjnych PZU SA Has $19.83 Million Stake in On Holding AG $ONON

Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of On Holding AG (NYSE:ONON) by 11.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 426,716 shares of the company’s stock after purchasing an additional 43,174 shares during the quarter. ON accounts for about 5.0% of Towarzystwo Funduszy Inwestycyjnych PZU SA’s portfolio, making the stock its 4th largest holding. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in ON were worth $19,834,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ONON. Bison Wealth LLC boosted its holdings in ON by 35.7% during the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after buying an additional 2,442 shares in the last quarter. Prudential Financial Inc. bought a new stake in ON during the second quarter worth approximately $517,000. Invesco Ltd. boosted its holdings in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock worth $8,186,000 after buying an additional 118,498 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in ON by 13.5% during the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock worth $376,000 after buying an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in ON by 91.7% during the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock worth $139,000 after buying an additional 1,273 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ONON. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Truist Financial reduced their price target on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Guggenheim restated a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Finally, Evercore set a $42.00 price target on shares of ON in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.05.

ON Stock Down 0.1%

ONON stock opened at $37.21 on Monday. On Holding AG has a 12-month low of $31.41 and a 12-month high of $61.29. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 0.75 and a beta of 2.09. The company has a 50 day moving average of $36.24 and a two-hundred day moving average of $41.79.

Insider Activity at ON

In related news, CEO David Michael Allemann bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. 68.57% of the stock is currently owned by corporate insiders.

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.