LPL Financial LLC Raises Stake in On Holding AG (NYSE:ONON)

LPL Financial LLC raised its position in shares of On Holding AG (NYSE:ONON - Free Report) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 468,638 shares of the company's stock after purchasing an additional 26,716 shares during the quarter. LPL Financial LLC owned 0.07% of ON worth $20,583,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd purchased a new position in ON during the first quarter valued at approximately $20,129,000. Assetmark Inc. lifted its holdings in ON by 47.8% during the first quarter. Assetmark Inc. now owns 7,974 shares of the company's stock valued at $350,000 after purchasing an additional 2,579 shares in the last quarter. Cetera Investment Advisers lifted its holdings in ON by 2.4% during the first quarter. Cetera Investment Advisers now owns 48,304 shares of the company's stock valued at $2,121,000 after purchasing an additional 1,118 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in ON during the first quarter valued at approximately $282,000. Finally, Pinnacle Associates Ltd. lifted its holdings in ON by 55.2% during the first quarter. Pinnacle Associates Ltd. now owns 29,800 shares of the company's stock valued at $1,309,000 after purchasing an additional 10,595 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Trading Up 1.1%

ONON stock opened at $47.57 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 67.96, a price-to-earnings-growth ratio of 2.68 and a beta of 2.24. The firm's fifty day simple moving average is $53.64 and its two-hundred day simple moving average is $51.37.

Wall Street Analyst Weigh In

ONON has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Barclays set a $68.00 price objective on shares of ON in a research report on Wednesday, May 14th. Stifel Nicolaus lifted their price objective on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Finally, Needham & Company LLC lifted their price objective on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $64.00.

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.

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