Amundi Acquires 12,724 Shares of On Holding AG $ONON

Key Points

• Amundi increased its ownership in On Holding AG by 2.9% in Q1, acquiring a total of 449,440 shares worth approximately $19.7 million.
• Other institutional investors also expanded their stakes, with Jump Financial LLC notably increasing its holdings by 746.6% to own 717,740 shares valued at $31.5 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for On Holding AG, with an average target price of $64.20, reflecting optimistic growth forecasts.

Amundi boosted its holdings in On Holding AG (NYSE:ONON - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 449,440 shares of the company's stock after buying an additional 12,724 shares during the quarter. Amundi owned 0.07% of ON worth $19,739,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new position in ON in the first quarter worth approximately $26,000. TCTC Holdings LLC grew its position in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after buying an additional 315 shares during the last quarter. Park Square Financial Group LLC acquired a new position in ON in the fourth quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in ON in the 1st quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC boosted its stake in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after purchasing an additional 916 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ONON shares. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. Barclays raised their price objective on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley raised their price objective on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of ON in a research note on Thursday, August 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.20.

ON Stock Down 0.7%

Shares of NYSE:ONON traded down $0.31 during trading on Friday, reaching $42.99. 3,856,532 shares of the company traded hands, compared to its average volume of 5,041,187. The firm has a fifty day simple moving average of $48.03 and a 200 day simple moving average of $49.25. The firm has a market cap of $27.07 billion, a P/E ratio of 95.54, a price-to-earnings-growth ratio of 5.59 and a beta of 2.23. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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.