Sanctuary Advisors LLC Increases Stock Position in On Holding AG (NYSE:ONON)

Sanctuary Advisors LLC lifted its position in On Holding AG (NYSE:ONON - Free Report) by 69.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,487 shares of the company's stock after acquiring an additional 19,932 shares during the quarter. Sanctuary Advisors LLC's holdings in ON were worth $2,432,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of ON in the 3rd quarter worth about $26,000. Blue Trust Inc. raised its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in ON in the third quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% in the 3rd 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. Finally, Quarry LP purchased a new position in ON in the second quarter valued at approximately $32,000. 36.39% of the stock is owned by institutional investors.

ON Price Performance

NYSE ONON traded down $0.58 on Wednesday, reaching $56.06. 321,646 shares of the company's stock traded hands, compared to its average volume of 4,793,785. The stock has a market cap of $35.30 billion, a PE ratio of 131.67 and a beta of 2.30. On Holding AG has a 12 month low of $25.78 and a 12 month high of $60.12. The stock has a 50-day simple moving average of $52.77 and a 200 day simple moving average of $46.38.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ONON shares. KeyCorp raised their target price on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on ON from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price target on shares of ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. UBS Group boosted their target price on shares of ON from $61.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, TD Cowen increased their target price on ON from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Five equities research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.77.

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.