Zevenbergen Capital Investments LLC Has $32.93 Million Stock Position in On Holding AG $ONON

Key Points

• Zevenbergen Capital Investments LLC increased its stake in On Holding AG by 7.1%, owning approximately 632,726 shares valued at $32.93 million at the end of the second quarter.
• Institutional investors and hedge funds collectively hold 36.39% of On Holding AG's stock, indicating significant institutional interest in the company.
• Several analysts have issued optimistic ratings for the stock, with an average price target of $64.20, reflecting a generally positive outlook on its future performance.

Zevenbergen Capital Investments LLC grew its position in On Holding AG (NYSE:ONON - Free Report) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 632,726 shares of the company's stock after buying an additional 41,723 shares during the period. Zevenbergen Capital Investments LLC owned approximately 0.10% of ON worth $32,933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Bison Wealth LLC grew its holdings in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock valued at $509,000 after buying an additional 2,442 shares during the period. Cetera Investment Advisers grew its holdings in shares of ON by 24.1% in the 4th quarter. Cetera Investment Advisers now owns 47,186 shares of the company's stock valued at $2,584,000 after buying an additional 9,176 shares during the period. Focus Partners Wealth grew its holdings in shares of ON by 20.0% in the 4th quarter. Focus Partners Wealth now owns 27,907 shares of the company's stock valued at $1,528,000 after buying an additional 4,657 shares during the period. Nomura Holdings Inc. acquired a new position in shares of ON in the 4th quarter valued at $280,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of ON in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Trading Down 0.7%

ON stock opened at $42.99 on Friday. The firm has a 50-day moving average of $48.03 and a 200-day moving average of $49.25. On Holding AG has a one year low of $34.59 and a one 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 cap of $27.07 billion, a price-to-earnings ratio of 95.54, a P/E/G ratio of 5.59 and a beta of 2.23.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $62.00 price target on shares of ON in a report on Tuesday, August 12th. Barclays upped their target price on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. UBS Group upped their target price on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Morgan Stanley upped their target price on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group set a $40.00 target price on shares of ON and gave the stock an "underperform" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average price target of $64.20.

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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