Rakuten Securities Inc. Purchases New Holdings in On Holding AG (NYSE:ONON)

Rakuten Securities Inc. purchased a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, Holdings Channel reports. The firm purchased 1,739 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors also recently modified their holdings of the stock. Durable Capital Partners LP increased its holdings in shares of ON by 114.5% during the first quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after buying an additional 5,887,034 shares in the last quarter. Macquarie Group Ltd. increased its holdings in ON by 25.2% in the second quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock valued at $146,635,000 after purchasing an additional 1,670,574 shares during the period. Jennison Associates LLC increased its holdings in ON by 7.6% in the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares during the period. American Century Companies Inc. increased its holdings in ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after purchasing an additional 3,428,794 shares during the period. Finally, Capital Research Global Investors increased its holdings in ON by 4.8% in the first quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock valued at $106,861,000 after purchasing an additional 195,301 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of NYSE ONON opened at $33.01 on Friday. On Holding AG has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 122.26, a PEG ratio of 1.30 and a beta of 2.16. The firm’s 50-day simple moving average is $33.04 and its 200 day simple moving average is $29.30.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). The firm had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. On average, sell-side analysts predict that On Holding AG will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 price target on shares of ON in a research report on Wednesday, March 6th. Truist Financial upped their price target on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. William Blair assumed coverage on shares of ON in a research report on Tuesday. They set an “outperform” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price target on shares of ON in a research report on Thursday, April 11th. Finally, Barclays assumed coverage on shares of ON in a research report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.13.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.