Penserra Capital Management LLC Cuts Position in On Holding AG (NYSE:ONON)

Penserra Capital Management LLC decreased its holdings in On Holding AG (NYSE:ONON - Free Report) by 82.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,346 shares of the company's stock after selling 11,323 shares during the period. Penserra Capital Management LLC's holdings in ON were worth $103,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter valued at approximately $39,119,000. APEIRON CAPITAL Ltd raised its stake in shares of ON by 35.9% during the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock valued at $43,882,000 after purchasing an additional 264,000 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ON during the fourth quarter valued at approximately $28,575,000. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of ON by 14.7% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 62,281 shares of the company's stock valued at $3,411,000 after purchasing an additional 7,960 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ON by 472.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,800 shares of the company's stock valued at $2,508,000 after purchasing an additional 37,804 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

ONON has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Morgan Stanley dropped their price objective on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. UBS Group set a $75.00 price target on shares of ON in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group began coverage on shares of ON in a research note on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $63.85.

ON Stock Performance

Shares of ONON opened at $52.47 on Friday. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 74.96, a price-to-earnings-growth ratio of 2.95 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The firm has a fifty day moving average of $54.95 and a 200-day moving average of $51.88.

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.

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