On Holding AG $ONON Shares Sold by Axiom Investors LLC DE

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 lowered its stake in On Holding AG (NYSE:ONON - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 499,650 shares of the company's stock after selling 218,260 shares during the period. Axiom Investors LLC DE owned approximately 0.08% of ON worth $21,945,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ONON. Montag A & Associates Inc. purchased a new position in shares of ON during the first quarter valued at approximately $26,000. TCTC Holdings LLC boosted its position in shares of ON by 118.4% during the first 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 period. Park Square Financial Group LLC purchased a new position in shares of ON during the fourth quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of ON during the first quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after buying an additional 916 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

ONON has been the subject of several recent analyst reports. Raymond James Financial lowered ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a research report on Tuesday, July 22nd. Robert W. Baird boosted their target price on ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Jefferies Financial Group set a $40.00 price target on ON and gave the company an "underperform" rating in a report on Wednesday, August 13th. Morgan Stanley boosted their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, UBS Group boosted their price target on ON from $75.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.20.

ON Stock Up 1.7%

NYSE:ONON traded up $0.78 during trading hours on Friday, reaching $45.37. The company's stock had a trading volume of 1,776,689 shares, compared to its average volume of 5,428,438. The stock has a 50 day moving average price of $49.84 and a two-hundred day moving average price of $49.78. The company has a market capitalization of $28.57 billion, a P/E ratio of 100.87, 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 quick ratio of 2.00 and a current ratio of 2.53. 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.