On Holding AG (NYSE:ONON) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in On Holding AG by 83.0% selling 38,015 shares, now holding only 7,785 shares valued at $342,000.
• Various institutional investors, including Kestra Private Wealth Services LLC and BNP Paribas Financial Markets, have made significant adjustments to their holdings in On Holding AG, affecting overall institutional ownership which stands at 36.39%.
• Analyst ratings are largely positive with a consensus of "Moderate Buy" and an average price target of $64.00, indicating potential for growth in the stock.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 83.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,785 shares of the company's stock after selling 38,015 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ON were worth $342,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ONON. CWM LLC lifted its stake in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after purchasing an additional 229 shares during the period. Sage Capital Advisors llc lifted its stake in ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock worth $4,406,000 after purchasing an additional 269 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock worth $743,000 after buying an additional 323 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of ON by 2.9% during the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock worth $539,000 after buying an additional 348 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of ON by 53.4% during the first quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock worth $57,000 after buying an additional 450 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONON has been the subject of a number of analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $65.00 target price on shares of ON in a report on Thursday. UBS Group set a $75.00 price target on shares of ON in a research report on Wednesday, May 14th. Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective on the stock. in a research note on Tuesday, July 22nd. Evercore ISI boosted their price objective on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Piper Sandler reissued an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.00.

ON Stock Performance

ON stock traded up $0.45 during midday trading on Friday, hitting $45.61. The stock had a trading volume of 6,706,134 shares, compared to its average volume of 5,510,258. The firm's fifty day moving average is $52.56 and its two-hundred day moving average is $51.00. The company has a market capitalization of $28.72 billion, a PE ratio of 65.16, a P/E/G ratio of 2.60 and a beta of 2.24. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19.

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.