National Bank of Canada FI Boosts Stake in On Holding AG (NYSE:ONON)

National Bank of Canada FI increased its stake in On Holding AG (NYSE:ONON - Free Report) by 5,339.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,601 shares of the company's stock after purchasing an additional 138,016 shares during the quarter. National Bank of Canada FI's holdings in ON were worth $7,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONON. Vanguard Group Inc. grew its holdings in ON by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 203,025 shares of the company's stock valued at $7,183,000 after buying an additional 7,874 shares in the last quarter. Diversified Trust Co purchased a new position in ON during the second quarter valued at approximately $267,000. Envestnet Portfolio Solutions Inc. increased its holdings in ON by 48.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,284 shares of the company's stock worth $709,000 after acquiring an additional 5,964 shares during the period. Coronation Fund Managers Ltd. lifted its stake in ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock worth $6,010,000 after purchasing an additional 110,467 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in ON by 7.8% in the 2nd quarter. Raymond James & Associates now owns 208,125 shares of the company's stock valued at $8,075,000 after purchasing an additional 15,011 shares during the period. 33.11% of the stock is currently owned by institutional investors.

ON Trading Down 1.0 %

Shares of ONON stock traded down $0.60 during trading hours on Thursday, reaching $57.60. The company's stock had a trading volume of 1,823,312 shares, compared to its average volume of 4,837,537. The stock has a market capitalization of $36.27 billion, a P/E ratio of 135.33 and a beta of 2.30. The firm's fifty day simple moving average is $52.36 and its 200 day simple moving average is $46.02. On Holding AG has a one year low of $25.78 and a one year high of $60.12.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONON. Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. BTIG Research raised ON from a "neutral" rating to a "buy" rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. Hsbc Global Res raised shares of ON to a "hold" rating in a research note on Thursday, September 5th. The Goldman Sachs Group lifted their target price on shares of ON from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $53.00 price objective on shares of ON in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.38.

ON 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.