Vontobel Holding Ltd. Trims Stake in On Holding AG (NYSE:ONON)

Vontobel Holding Ltd. decreased its position in shares of On Holding AG (NYSE:ONON) by 22.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,614 shares of the company’s stock after selling 9,348 shares during the period. Vontobel Holding Ltd.’s holdings in ON were worth $1,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its holdings in shares of ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC grew its holdings in shares of ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after acquiring an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after acquiring an additional 349,789 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after acquiring an additional 71,436 shares during the period. Finally, Forte Capital LLC ADV purchased a new position in shares of ON during the 3rd quarter worth approximately $742,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE:ONON opened at $51.94 on Tuesday. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 120.79, a price-to-earnings-growth ratio of 1.20 and a beta of 2.30. On Holding AG has a one year low of $27.37 and a one year high of $64.05. The business has a fifty day moving average price of $56.83 and a 200-day moving average price of $51.73.

Analysts Set New Price Targets

A number of research firms have weighed in on ONON. Truist Financial upped their target price on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America assumed coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Citigroup assumed coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Morgan Stanley upped their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.73.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.