California First Leasing Corp Sells 38,000 Shares of On Holding AG (NYSE:ONON)

California First Leasing Corp decreased its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 37.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,100 shares of the company's stock after selling 38,000 shares during the period. California First Leasing Corp's holdings in ON were worth $2,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in ON during the 4th quarter worth about $39,119,000. APEIRON CAPITAL Ltd boosted its position in ON by 35.9% during the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock worth $43,882,000 after acquiring an additional 264,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of ON during the 4th quarter worth approximately $28,575,000. Gerber Kawasaki Wealth & Investment Management lifted its position in shares of ON by 14.7% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 62,281 shares of the company's stock worth $3,411,000 after purchasing an additional 7,960 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in shares of ON in the fourth quarter worth $1,067,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ONON shares. Truist Financial lifted their price target on shares of ON from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Barclays set a $68.00 price target on ON in a research report on Wednesday, May 14th. Evercore ISI upped their price objective on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Piper Sandler reissued an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ON presently has an average rating of "Buy" and an average price target of $63.85.

ON Price Performance

Shares of NYSE ONON traded up $0.04 during midday trading on Monday, reaching $54.35. The company's stock had a trading volume of 5,432,301 shares, compared to its average volume of 4,672,085. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The company has a market cap of $34.22 billion, a P/E ratio of 77.64, a P/E/G ratio of 3.07 and a beta of 2.25. The business's 50 day moving average price is $54.40 and its two-hundred day moving average price is $51.96. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05.

ON 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.