On Holding AG $ONON Shares Purchased by Stony Point Capital LLC

Key Points

• Stony Point Capital LLC increased its stake in On Holding AG by **61.7%**, owning 180,657 shares valued at approximately **$7,934,000**.
• Several institutional investors also increased their holdings in On Holding AG, with **Kestra Private Wealth Services LLC** boosting its stake by **151.2%** during the first quarter.
• Analysts have raised their price targets for On Holding AG, with target prices ranging from **$62.00** to **$70.00**, indicating a strong **buy** sentiment across the majority of ratings.

Stony Point Capital LLC increased its position in shares of On Holding AG (NYSE:ONON - Free Report) by 61.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,657 shares of the company's stock after purchasing an additional 68,907 shares during the period. Stony Point Capital LLC's holdings in ON were worth $7,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its holdings in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock valued at $55,000 after buying an additional 229 shares during the last quarter. Sage Capital Advisors llc raised its holdings in shares of ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after buying an additional 269 shares during the last quarter. TCTC Holdings LLC raised its holdings in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after buying an additional 315 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of ON by 2.9% in the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock valued at $539,000 after buying an additional 348 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of ON by 53.4% in the first quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock valued at $57,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their target price on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and set a $62.00 price target on shares of ON in a report on Tuesday, August 12th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target for the company. in a report on Tuesday, July 22nd. UBS Group increased their price target on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Truist Financial increased their price target on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Price Performance

ON stock traded down $0.26 during mid-day trading on Tuesday, reaching $44.82. The company had a trading volume of 5,198,904 shares, compared to its average volume of 5,445,196. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The company has a market capitalization of $28.22 billion, a P/E ratio of 99.61, a P/E/G ratio of 4.97 and a beta of 2.23. The stock's 50-day simple moving average is $49.53 and its 200-day simple moving average is $49.62.

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.