On Holding AG $ONON Shares Purchased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of On Holding AG (NYSE:ONON) by 34.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 680,646 shares of the company’s stock after purchasing an additional 175,255 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.11% of ON worth $28,825,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ONON. Winslow Capital Management LLC acquired a new position in ON during the second quarter worth $248,113,000. Sands Capital Management LLC acquired a new stake in ON in the second quarter valued at $240,177,000. Norges Bank purchased a new stake in shares of ON during the 2nd quarter worth $138,641,000. Ameriprise Financial Inc. grew its stake in shares of ON by 4,564.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock worth $119,752,000 after purchasing an additional 2,242,480 shares during the period. Finally, State Street Corp increased its holdings in shares of ON by 765.4% in the 2nd quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after purchasing an additional 1,962,586 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ONON shares. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Truist Financial decreased their price target on ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Evercore ISI lowered their price target on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. TD Cowen raised their price objective on ON from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, BTIG Research reiterated a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.59.

ON Trading Down 2.0%

Shares of ON stock opened at $44.15 on Wednesday. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The business has a 50 day moving average price of $46.03 and a 200 day moving average price of $45.35. The company has a market capitalization of $27.72 billion, a P/E ratio of 57.33, a P/E/G ratio of 1.35 and a beta of 2.15.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.