Envestnet Portfolio Solutions Inc. Sells 17,929 Shares of On Holding AG (NYSE:ONON)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of On Holding AG (NYSE:ONON - Free Report) by 58.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,912 shares of the company's stock after selling 17,929 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ON were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Park Square Financial Group LLC bought a new stake in ON during the 4th quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of ON in the first quarter valued at approximately $32,000. Bernard Wealth Management Corp. bought a new stake in shares of ON during the fourth quarter worth $44,000. Parallel Advisors LLC raised its holdings in shares of ON by 53.4% during the first quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock worth $57,000 after acquiring an additional 450 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of ON during the fourth quarter worth $69,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Ratings Changes

ONON has been the topic of a number of recent research reports. Barclays set a $68.00 target price on ON in a research report on Wednesday, May 14th. Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $65.00 to $60.00 in a report on Monday, April 28th. 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 report on Wednesday, May 14th. Hsbc Global Res upgraded shares of ON from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Williams Trading boosted their price target on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $63.85.

ON Stock Performance

Shares of ON stock traded down $0.44 during trading on Monday, reaching $52.05. The company's stock had a trading volume of 4,837,926 shares, compared to its average volume of 4,630,774. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $53.64 and its 200-day moving average price is $52.03. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The firm has a market cap of $32.77 billion, a PE ratio of 74.36, a P/E/G ratio of 3.00 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.