Commonwealth Equity Services LLC Trims Stake in On Holding AG (NYSE:ONON)

Commonwealth Equity Services LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,704 shares of the company's stock after selling 5,419 shares during the quarter. Commonwealth Equity Services LLC's holdings in ON were worth $3,325,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ONON. Advisors Asset Management Inc. grew its position in shares of ON by 53.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,572 shares of the company's stock worth $380,000 after acquiring an additional 2,622 shares in the last quarter. Penserra Capital Management LLC lifted its position in ON by 17.4% in the 3rd quarter. Penserra Capital Management LLC now owns 33,801 shares of the company's stock valued at $1,694,000 after purchasing an additional 5,000 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of ON during the third quarter worth approximately $658,000. Private Trust Co. NA bought a new position in ON in the 3rd quarter worth approximately $26,000. Finally, Bank of Montreal Can raised its stake in shares of ON by 27.2% during the third quarter. Bank of Montreal Can now owns 46,320 shares of the company's stock valued at $2,368,000 after purchasing an additional 9,895 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barclays lifted their target price on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. TD Cowen lifted their price objective on shares of ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered ON from a "buy" rating to a "neutral" rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Finally, KeyCorp restated an "overweight" rating and set a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $61.90.

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ON Stock Down 4.1 %

Shares of NYSE ONON traded down $1.91 during trading on Friday, reaching $44.10. The company had a trading volume of 4,702,171 shares, compared to its average volume of 4,371,741. The stock has a market cap of $27.76 billion, a PE ratio of 102.55, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The business's 50-day moving average is $52.13 and its 200 day moving average is $52.67.

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.