On Holding AG (NYSE:ONON) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV reduced its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,527 shares of the company's stock after selling 34,866 shares during the period. Azzad Asset Management Inc. ADV's holdings in ON were worth $4,898,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of ON in the 1st quarter valued at approximately $32,000. Bernard Wealth Management Corp. purchased a new stake in shares of ON in the 4th quarter valued at approximately $44,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of ON in the 4th quarter valued at approximately $53,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Truist Financial increased their target price on shares of ON from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley dropped their target price on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of ON in a research report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 target price on shares of ON in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $63.05.

ON Price Performance

Shares of ONON stock traded down $3.38 during mid-day trading on Friday, hitting $52.35. The stock had a trading volume of 9,332,644 shares, compared to its average volume of 4,605,315. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The firm has a market cap of $32.96 billion, a PE ratio of 121.74, a PEG ratio of 1.02 and a beta of 2.35. The company's 50-day simple moving average is $51.51 and its 200-day simple moving average is $52.46.

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.