On Holding AG $ONON Shares Sold by Arnhold LLC

Key Points

• Arnhold LLC reduced its stake in On Holding AG by 2.8%, now holding 349,000 shares, making it the firm’s 20th largest position.
• Analysts have set varying price targets for ONON, with a consensus rating of "Moderate Buy" and an average price target of $63.65.
• As of the most recent data, 36.39% of On Holding AG is owned by institutional investors and hedge funds, indicating significant market interest in the company.

Arnhold LLC trimmed its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,000 shares of the company's stock after selling 10,000 shares during the period. ON comprises 1.7% of Arnhold LLC's holdings, making the stock its 20th largest position. Arnhold LLC owned approximately 0.06% of ON worth $18,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stratos Wealth Partners LTD. grew its holdings in ON by 16.7% during the second quarter. Stratos Wealth Partners LTD. now owns 33,507 shares of the company's stock worth $1,744,000 after acquiring an additional 4,800 shares during the period. Allianz Asset Management GmbH purchased a new position in ON during the second quarter worth approximately $3,321,000. Harbour Investments Inc. boosted its position in ON by 69.9% during the second quarter. Harbour Investments Inc. now owns 4,578 shares of the company's stock worth $238,000 after purchasing an additional 1,884 shares in the last quarter. TD Asset Management Inc boosted its position in ON by 41.6% during the second quarter. TD Asset Management Inc now owns 370,200 shares of the company's stock worth $19,269,000 after purchasing an additional 108,800 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in ON during the second quarter worth approximately $248,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONON has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $62.00 price target on shares of ON in a research report on Tuesday, August 12th. Jefferies Financial Group set a $40.00 target price on ON and gave the company an "underperform" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their price objective on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and set a $65.00 price objective on shares of ON in a research report on Thursday, August 7th. Finally, TD Cowen reduced their price objective on ON from $63.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.65.

ON Trading Down 0.2%

Shares of NYSE ONON opened at $41.91 on Friday. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $44.18 and a 200-day simple moving average of $48.60. The stock has a market capitalization of $26.39 billion, a PE ratio of 93.14, a PEG ratio of 5.22 and a beta of 2.19.

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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