Assetmark Inc. Purchases New Stake in On Holding AG (NYSE:ONON)

Assetmark Inc. purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,200 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. Quarry LP bought a new position in ON during the second quarter worth about $32,000. MFA Wealth Advisors LLC bought a new position in ON during the third quarter worth about $50,000. Finally, nVerses Capital LLC bought a new position in ON during the third quarter worth about $65,000. Institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ONON shares. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Truist Financial increased their target price on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI raised shares of ON to an “overweight” rating and increased their price target for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Finally, The Goldman Sachs Group increased their price target on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.33.

ON Stock Performance

ONON stock opened at $51.92 on Monday. The company has a market capitalization of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25. On Holding AG has a one year low of $25.78 and a one year high of $56.44. The company’s 50 day moving average price is $49.56 and its two-hundred day moving average price is $43.34.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.