UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 69,430 Shares of On Holding AG (NYSE:ONON)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in On Holding AG (NYSE:ONON - Free Report) by 77.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,270 shares of the company's stock after selling 69,430 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in ON were worth $1,017,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its holdings in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company's stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company's stock valued at $59,878,000 after purchasing an additional 1,315,006 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after buying an additional 642,894 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of ON by 22.8% during the 2nd quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company's stock worth $44,734,000 after buying an additional 213,815 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in ON in the 2nd quarter valued at about $43,456,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Up 0.7 %

NYSE:ONON traded up $0.38 on Thursday, reaching $55.14. 2,134,359 shares of the stock traded hands, compared to its average volume of 4,794,050. On Holding AG has a 1-year low of $25.78 and a 1-year high of $60.12. The company's 50 day moving average is $52.95 and its 200-day moving average is $46.54. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 128.24 and a beta of 2.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ONON shares. HSBC started coverage on ON in a report on Thursday, September 5th. They set a "hold" rating and a $52.00 price objective for the company. Bank of America raised ON from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $21.00 to $55.00 in a report on Monday, September 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $53.00 target price on shares of ON in a report on Tuesday, November 12th. Hsbc Global Res upgraded shares of ON to a "hold" rating in a research note on Thursday, September 5th. Finally, Piper Sandler boosted their price objective on shares of ON from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.