Corient Private Wealth LLC cut its stake in On Holding AG (NYSE:ONON - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,847 shares of the company's stock after selling 5,988 shares during the quarter. Corient Private Wealth LLC's holdings in ON were worth $1,909,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Private Trust Co. NA purchased a new position in ON in the third quarter worth approximately $26,000. Legacy Bridge LLC purchased a new position in shares of ON during the 4th quarter worth $43,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON during the 4th quarter worth about $53,000. VisionPoint Advisory Group LLC purchased a new stake in ON in the 4th quarter valued at about $65,000. Finally, Blue Trust Inc. lifted its position in ON by 148.8% in the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock valued at $66,000 after buying an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.
Analysts Set New Price Targets
ONON has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $64.00 target price on shares of ON in a research report on Tuesday, March 4th. TD Cowen upped their price target on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. Finally, Morgan Stanley lifted their target price on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $61.90.
Get Our Latest Stock Analysis on ONON
ON Price Performance
Shares of ONON traded down $1.91 during mid-day trading on Friday, reaching $44.10. The company's stock had a trading volume of 4,702,171 shares, compared to its average volume of 4,374,806. The company's 50 day moving average is $52.13 and its 200 day moving average is $52.62. The stock has a market cap of $27.76 billion, a PE ratio of 102.55, a price-to-earnings-growth 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.
ON Profile
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Free Report)
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.
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