6,417 Shares in On Holding AG (NYSE:ONON) Bought by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. acquired 6,417 shares of On Holding AG, valued at approximately $282,000, during the first quarter.
• Institutional investors and hedge funds currently own 36.39% of On Holding AG's stock, with multiple investors increasing their positions in the company.
• Recent analyst reports are optimistic, with several firms increasing their price targets for ON, signaling a consensus rating of "Moderate Buy" with an average target of $64.00.

Avantax Advisory Services Inc. acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,417 shares of the company's stock, valued at approximately $282,000.

Several other large investors have also modified their holdings of ONON. Park Square Financial Group LLC purchased a new stake in shares of ON in the 4th quarter valued at $32,000. Montag A & Associates Inc. purchased a new stake in shares of ON in the 1st quarter valued at $26,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of ON in the 1st quarter valued at $32,000. Bernard Wealth Management Corp. purchased a new stake in shares of ON in the 4th quarter valued at $44,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of ON in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ONON shares. Barclays set a $68.00 price objective on ON in a report on Wednesday, May 14th. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of ON in a report on Thursday. Morgan Stanley cut their price target on ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. UBS Group set a $75.00 price target on ON in a report on Wednesday, May 14th. Finally, Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target on the stock. in a report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ON has an average rating of "Moderate Buy" and an average target price of $64.00.

ON Stock Performance

ON stock traded up $0.45 during mid-day trading on Friday, reaching $45.61. 6,706,134 shares of the company were exchanged, compared to its average volume of 5,510,258. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm's 50-day simple moving average is $52.56 and its two-hundred day simple moving average is $51.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The firm has a market cap of $28.72 billion, a PE ratio of 65.23, a price-to-earnings-growth ratio of 2.60 and a beta of 2.24.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.