Rakuten Securities Inc. Acquires Shares of 1,739 On Holding AG (NYSE:ONON)

Rakuten Securities Inc. acquired a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,739 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently bought and sold shares of ONON. Durable Capital Partners LP grew its position in shares of ON by 114.5% in the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after acquiring an additional 5,887,034 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of ON by 25.2% in the 2nd quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock worth $146,635,000 after acquiring an additional 1,670,574 shares in the last quarter. Jennison Associates LLC grew its position in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after acquiring an additional 554,513 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of ON by 109.3% in the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of ON by 4.8% in the 1st quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock worth $106,861,000 after purchasing an additional 195,301 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Price Performance

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

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. As a group, equities analysts expect that On Holding AG will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Redburn Atlantic reissued a “neutral” rating and issued a $34.00 price target on shares of ON in a report on Thursday, March 7th. TheStreet downgraded ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Evercore ISI cut their price target on ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Barclays started coverage on ON in a research note on Monday, April 1st. They set an “overweight” rating and a $38.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 target price on shares of ON in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.