California First Leasing Corp Trims Stock Holdings in On Holding AG (NYSE:ONON)

California First Leasing Corp lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 37.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,100 shares of the company's stock after selling 38,000 shares during the quarter. California First Leasing Corp's holdings in ON were worth $2,771,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in ON by 11.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,491 shares of the company's stock worth $18,161,000 after buying an additional 40,837 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in ON by 19.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 11,279 shares of the company's stock worth $495,000 after buying an additional 1,866 shares during the last quarter. Impax Asset Management Group plc lifted its position in ON by 62.6% in the first quarter. Impax Asset Management Group plc now owns 36,942 shares of the company's stock valued at $1,622,000 after purchasing an additional 14,218 shares during the last quarter. GF Fund Management CO. LTD. lifted its position in ON by 1.3% in the first quarter. GF Fund Management CO. LTD. now owns 110,895 shares of the company's stock valued at $4,871,000 after purchasing an additional 1,440 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in ON by 9.5% in the first quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company's stock valued at $276,000 after purchasing an additional 544 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

Shares of NYSE:ONON traded down $0.82 during midday trading on Thursday, reaching $53.30. 3,632,165 shares of the company's stock traded hands, compared to its average volume of 4,670,680. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 76.14, a P/E/G ratio of 2.96 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The stock has a 50 day moving average of $54.77 and a 200 day moving average of $51.96.

Analyst Upgrades and Downgrades

ONON has been the subject of several recent research reports. KeyCorp boosted their price objective on ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Raymond James Financial reissued a "strong-buy" rating on shares of ON in a research note on Wednesday, May 14th. Truist Financial boosted their target price on ON from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Barclays set a $68.00 target price on ON in a research note on Wednesday, May 14th. Finally, Piper Sandler reissued an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ON presently has a consensus rating of "Buy" and an average target price of $63.85.

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.