FengHe Fund Management Pte. Ltd. Purchases Shares of 3,064,211 On Holding AG $ONON

FengHe Fund Management Pte. Ltd. bought a new position in shares of On Holding AG (NYSE:ONON) in the fourth quarter, Holdings Channel reports. The fund bought 3,064,211 shares of the company’s stock, valued at approximately $142,425,000. ON makes up approximately 8.0% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Parsons Capital Management Inc. RI lifted its holdings in shares of ON by 4.3% during the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock worth $307,000 after buying an additional 300 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of ON by 0.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company’s stock worth $5,142,000 after buying an additional 318 shares in the last quarter. Sterling Investment Counsel LLC lifted its holdings in shares of ON by 6.5% during the third quarter. Sterling Investment Counsel LLC now owns 6,125 shares of the company’s stock worth $259,000 after buying an additional 375 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of ON by 1.9% during the third quarter. Jones Financial Companies Lllp now owns 21,960 shares of the company’s stock worth $933,000 after buying an additional 417 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of ON by 17.7% during the fourth quarter. CWM LLC now owns 3,282 shares of the company’s stock worth $153,000 after buying an additional 493 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Insider Activity at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $36.56, for a total value of $151,724.00. Following the transaction, the chief executive officer owned 1,389,249 shares in the company, valued at approximately $50,790,943.44. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,600 shares of company stock valued at $597,102 in the last quarter.

ON Stock Down 0.9%

Shares of NYSE ONON opened at $35.92 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29. The stock has a market capitalization of $22.92 billion, a P/E ratio of 49.88, a PEG ratio of 0.73 and a beta of 2.23. The stock’s fifty day moving average is $38.95 and its 200 day moving average is $42.36.

Analyst Ratings Changes

ONON has been the subject of a number of research reports. UBS Group reissued a “buy” rating on shares of ON in a report on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a report on Tuesday, April 21st. Williams Trading downgraded ON from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Barclays dropped their target price on ON from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Finally, Telsey Advisory Group dropped their target price on ON from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.40.

ON Company 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.