204,656 Shares in On Holding AG (NYSE:ONON) Acquired by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI purchased a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 204,656 shares of the company's stock, valued at approximately $10,263,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of ON by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 203,025 shares of the company's stock worth $7,183,000 after buying an additional 7,874 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of ON by 1.9% in the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company's stock worth $637,000 after acquiring an additional 302 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new stake in shares of ON in the 2nd quarter valued at approximately $230,000. Diversified Trust Co bought a new stake in shares of ON during the 2nd quarter valued at approximately $267,000. Finally, Envestnet Portfolio Solutions Inc. increased its position 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 purchasing an additional 5,964 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Trading Down 2.9 %

NYSE ONON traded down $1.73 during trading hours on Friday, hitting $57.64. 3,517,034 shares of the company's stock were exchanged, compared to its average volume of 4,044,513. On Holding AG has a 1-year low of $25.78 and a 1-year high of $60.12. The stock has a 50-day simple moving average of $51.96 and a 200 day simple moving average of $45.66. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 134.05 and a beta of 2.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ONON shares. Robert W. Baird raised their target price 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. Hsbc Global Res upgraded ON to a "hold" rating in a research report on Thursday, September 5th. Williams Trading raised ON from a "hold" rating to a "buy" rating and upped their target price for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Stifel Nicolaus lifted their price target on ON from $45.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, KeyCorp boosted their price target on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. Four equities research 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.05.

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.