Ridgecrest Wealth Partners LLC Takes $1.82 Million Position in On Holding AG (NYSE:ONON)

Ridgecrest Wealth Partners LLC acquired a new position in On Holding AG (NYSE:ONON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,500 shares of the company's stock, valued at approximately $1,823,000. ON comprises about 1.0% of Ridgecrest Wealth Partners LLC's portfolio, making the stock its 25th biggest position.

Several other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in ON during the 4th quarter valued at about $39,119,000. Raymond James Financial Inc. purchased a new position in ON during the 4th quarter valued at about $28,575,000. Gerber Kawasaki Wealth & Investment Management grew its holdings in ON by 14.7% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 62,281 shares of the company's stock valued at $3,411,000 after buying an additional 7,960 shares in the last quarter. New York State Common Retirement Fund grew its holdings in ON by 102.1% during the 4th quarter. New York State Common Retirement Fund now owns 221,820 shares of the company's stock valued at $12,149,000 after buying an additional 112,078 shares in the last quarter. Finally, Prasad Wealth Partners LLC purchased a new position in ON during the 4th quarter valued at about $2,298,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

ONON stock traded up $0.07 during trading on Thursday, reaching $51.55. The stock had a trading volume of 4,552,434 shares, compared to its average volume of 4,553,677. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The stock's 50 day moving average is $53.22 and its two-hundred day moving average is $52.17. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The firm has a market cap of $32.46 billion, a PE ratio of 73.64, a PEG ratio of 2.94 and a beta of 2.35.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ONON shares. Truist Financial lifted their price target on ON from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Raymond James Financial reiterated a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Evercore ISI lifted their price target on ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Barclays set a $68.00 price target on ON in a research report on Wednesday, May 14th. Finally, UBS Group set a $75.00 price target on ON in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $63.85.

About ON

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.