Robeco Schweiz AG Sells 23,880 Shares of On Holding AG $ONON

Robeco Schweiz AG decreased its holdings in On Holding AG (NYSE:ONON) by 54.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,013 shares of the company’s stock after selling 23,880 shares during the period. Robeco Schweiz AG’s holdings in ON were worth $593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC lifted its stake in ON by 29.5% in the third quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock worth $47,000 after purchasing an additional 364 shares during the last quarter. Investment House LLC purchased a new stake in ON during the third quarter valued at about $3,194,000. Guardian Partners Inc. bought a new position in shares of ON during the third quarter valued at about $41,000. OceanIQ Capital LLC grew its stake in shares of ON by 67.5% during the third quarter. OceanIQ Capital LLC now owns 6,700 shares of the company’s stock valued at $198,000 after buying an additional 2,700 shares during the last quarter. Finally, Independent Wealth Network Inc. grew its stake in shares of ON by 72.8% during the third quarter. Independent Wealth Network Inc. now owns 13,135 shares of the company’s stock valued at $389,000 after buying an additional 5,535 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Trading Up 0.0%

Shares of ONON opened at $32.52 on Monday. The stock has a market capitalization of $20.75 billion, a P/E ratio of 22.12, a PEG ratio of 0.64 and a beta of 2.08. On Holding AG has a twelve month low of $26.36 and a twelve month high of $51.08. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $30.48 and a two-hundred day simple moving average of $34.53.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. ON’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, research analysts anticipate that On Holding AG will post 1.50 EPS for the current year.

Insider Transactions at ON

In other ON news, CEO Caspar Coppetti purchased 65,000 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Bernhard purchased 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares in the company, valued at $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Telsey Advisory Group decreased their price objective on ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. William Blair cut ON from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Williams Trading set a $32.00 target price on ON in a report on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $60.00 price target on shares of ON in a research report on Wednesday, September 23rd. Finally, Morgan Stanley started coverage on ON in a research note on Thursday, September 10th. They issued an “overweight” rating and a $39.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and an average target price of $43.48.

About ON

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.