Zevenbergen Capital Investments LLC Raises 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 holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 632,726 shares of the company's stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company's stock worth $869,388,000 after purchasing an additional 2,416,534 shares during the period. Jennison Associates LLC increased its position in ON by 136.6% during the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. T. Rowe Price Investment Management Inc. increased its position in ON by 1.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company's stock worth $149,136,000 after purchasing an additional 34,120 shares during the period. 1832 Asset Management L.P. increased its position in ON by 8.3% during the 1st quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company's stock worth $102,979,000 after purchasing an additional 178,750 shares during the period. Finally, Nuveen LLC acquired a new position in ON during the 1st quarter worth approximately $102,850,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Wall Street Analyst Weigh In

ONON has been the topic of a number of research reports. UBS Group upped their price target on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price target on ON and gave the stock an "underperform" rating in a report on Wednesday, August 13th. Barclays upped their price target on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price target on shares of ON in a report on Thursday, August 7th. Finally, Morgan Stanley upped their price target on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Trading Up 0.6%

Shares of ON stock traded up $0.27 during trading hours on Friday, reaching $45.26. 1,952,983 shares of the company's stock were exchanged, compared to its average volume of 5,414,941. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The firm has a market capitalization of $28.50 billion, a price-to-earnings ratio of 100.34, a price-to-earnings-growth ratio of 5.66 and a beta of 2.23. The company has a fifty day moving average of $47.24 and a 200-day moving average of $49.12. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

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.