Citigroup Inc. Sells 666,830 Shares of On Holding AG (NYSE:ONON)

Citigroup Inc. lessened its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 85.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,981 shares of the company's stock after selling 666,830 shares during the quarter. Citigroup Inc.'s holdings in ON were worth $5,816,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ONON. Blue Trust Inc. raised its holdings in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after buying an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the third quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of 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 stake in shares of ON in the second quarter worth $32,000. Finally, MFA Wealth Advisors LLC bought a new position in ON during the 3rd quarter worth $50,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ON stock traded up $0.20 during trading hours on Monday, reaching $58.53. The company's stock had a trading volume of 3,219,815 shares, compared to its average volume of 4,897,882. On Holding AG has a one year low of $25.78 and a one year high of $59.19. The company has a market capitalization of $36.85 billion, a P/E ratio of 136.12 and a beta of 2.25. The stock's fifty day simple moving average is $51.32 and its two-hundred day simple moving average is $45.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp raised their price objective on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. Robert W. Baird boosted their price target on shares of ON from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Hsbc Global Res upgraded shares of ON to a "hold" rating in a research report on Thursday, September 5th. Telsey Advisory Group restated an "outperform" rating and issued a $53.00 target price on shares of ON in a report on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price target on ON from $45.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ON presently has an average rating of "Moderate Buy" and a consensus price target of $56.05.

About ON

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.