Peloton Wealth Strategists Sells 11,750 Shares of On Holding AG $ONON

Key Points

• Peloton Wealth Strategists reduced its stake in On Holding AG by 30.5%, selling 11,750 shares and retaining 26,810 shares valued at approximately $1.18 million.
• Several institutional investors, including PNC Financial Services and Citigroup, increased their holdings in On, with Citigroup ramping up its stake by 73.1%.
• The stock remains highly rated by analysts, with an average rating of "Moderate Buy" and a price target of $64.20, highlighting positive sentiment in the market.

Peloton Wealth Strategists lowered its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,810 shares of the company's stock after selling 11,750 shares during the quarter. Peloton Wealth Strategists' holdings in ON were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company's stock valued at $494,000 after purchasing an additional 3,025 shares in the last quarter. Citigroup Inc. boosted its position in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company's stock valued at $9,361,000 after purchasing an additional 89,982 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in ON by 151.2% during the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock valued at $829,000 after purchasing an additional 11,362 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in ON in the first quarter valued at about $410,000. Finally, Jump Financial LLC raised its stake in ON by 746.6% in the first quarter. Jump Financial LLC now owns 717,740 shares of the company's stock valued at $31,523,000 after buying an additional 632,965 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler reiterated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Morgan Stanley increased their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Evercore ISI increased their price target on ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target for the company. in a research note on Tuesday, July 22nd. Finally, Cowen reiterated a "buy" rating on shares of ON in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ON has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Trading Down 0.5%

Shares of NYSE:ONON opened at $45.28 on Tuesday. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 100.62, a PEG ratio of 5.88 and a beta of 2.23. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $48.85 and a 200-day moving average price of $49.41.

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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