Axiom Investors LLC DE Has $21.95 Million Stock Holdings in On Holding AG $ONON

Key Points

• Axiom Investors LLC DE has reduced its stake in On Holding AG by 30.4%, owning approximately $21.95 million worth of shares after selling 218,260 shares during the first quarter.
• Several institutional investors, including Park Square Financial Group and TCTC Holdings, have increased their holdings in On Holding, contributing to a total institutional ownership of 36.39%.
• Equities analysts have shown a diverse outlook for ON, with several upgrades in price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of $64.20.

Axiom Investors LLC DE cut its position in shares of On Holding AG (NYSE:ONON - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 499,650 shares of the company's stock after selling 218,260 shares during the quarter. Axiom Investors LLC DE owned 0.08% of ON worth $21,945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Montag A & Associates Inc. purchased a new stake in shares of ON during the first quarter worth $26,000. TCTC Holdings LLC lifted its holdings in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after buying an additional 315 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of ON in the 4th quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of ON in the 1st quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC increased its holdings in ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after buying an additional 916 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. KeyCorp increased their price target on ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a research note on Tuesday, July 22nd. Robert W. Baird increased their price objective on shares of ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Truist Financial lifted their price target on ON from $61.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Price Performance

Shares of ONON stock traded down $0.55 on Thursday, hitting $44.63. 4,437,659 shares of the company's stock were exchanged, compared to its average volume of 5,451,998. The company has a 50 day moving average of $49.99 and a 200 day moving average of $49.85. The stock has a market cap of $28.10 billion, a P/E ratio of 99.19, a price-to-earnings-growth ratio of 4.99 and a beta of 2.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05.

ON Company Profile

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.