Janney Montgomery Scott LLC Sells 22,986 Shares of On Holding AG (NYSE:ONON)

Janney Montgomery Scott LLC lowered its stake in On Holding AG (NYSE:ONON - Free Report) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,699 shares of the company's stock after selling 22,986 shares during the quarter. Janney Montgomery Scott LLC's holdings in ON were worth $2,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA bought a new stake in ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its stake in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON in the 3rd quarter worth approximately $29,000. Finally, Quarry LP bought a new position in shares of ON during the 2nd quarter valued at $32,000. Institutional investors own 36.39% of the company's stock.

ON Price Performance

ON stock traded up $0.68 during mid-day trading on Wednesday, hitting $59.02. 3,053,542 shares of the company were exchanged, compared to its average volume of 3,384,602. On Holding AG has a 12-month low of $27.02 and a 12-month high of $64.05. The company has a market capitalization of $37.16 billion, a P/E ratio of 137.25, a PEG ratio of 1.21 and a beta of 2.30. The business's 50 day simple moving average is $57.42 and its two-hundred day simple moving average is $50.83.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ONON shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of ON in a research note on Wednesday, January 15th. Morgan Stanley boosted their price objective on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Barclays lifted their price target on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Bank of America initiated coverage on ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price target for the company. Finally, Raymond James raised shares of ON from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.73.

About ON

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.