Asio Capital LLC Sells 6,827 Shares of On Holding AG (NYSE:ONON)

Asio Capital LLC reduced its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,563 shares of the company's stock after selling 6,827 shares during the period. Asio Capital LLC's holdings in ON were worth $1,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of ON during the 4th quarter worth about $164,574,000. Arrowstreet Capital Limited Partnership bought a new position in shares of ON during the 4th quarter worth about $78,799,000. Axiom Investors LLC DE acquired a new stake in shares of ON during the 4th quarter valued at about $39,320,000. BNP Paribas Financial Markets bought a new stake in ON in the fourth quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. bought a new stake in ON in the fourth quarter valued at about $28,575,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Jefferies Financial Group assumed coverage on shares of ON in a research note on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective on the stock. UBS Group set a $75.00 target price on shares of ON in a research note on Wednesday, May 14th. Robert W. Baird boosted their target price on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Raymond James restated a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $63.05.

ON Stock Down 6.1%

ONON stock traded down $3.38 during midday trading on Friday, reaching $52.35. 9,332,644 shares of the company's stock traded hands, compared to its average volume of 4,605,315. The firm's fifty day moving average price is $51.51 and its 200-day moving average price is $52.50. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 121.74, a P/E/G ratio of 1.02 and a beta of 2.35.

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.