On Holding AG $ONON Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its stake in On Holding AG (NYSE:ONON - Free Report) by 23.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 35,476 shares of the company's stock after selling 10,704 shares during the period. Vontobel Holding Ltd.'s holdings in ON were worth $1,847,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ONON. Montag A & Associates Inc. acquired a new stake in ON in the 1st quarter valued at approximately $26,000. TCTC Holdings LLC increased its holdings in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after purchasing an additional 916 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in ON in the 1st quarter valued at approximately $44,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ON in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONON. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of ON in a research note on Wednesday. Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a research note on Tuesday, July 22nd. Barclays boosted their target price on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley boosted their target price on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Stock Performance

Shares of ONON stock opened at $41.93 on Friday. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The company has a market cap of $26.40 billion, a P/E ratio of 93.18, a PEG ratio of 5.20 and a beta of 2.19. 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 firm has a fifty day moving average price of $44.61 and a 200 day moving average price of $48.70.

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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