Gerber Kawasaki Wealth & Investment Management Decreases Stock Holdings in On Holding AG $ONON

Gerber Kawasaki Wealth & Investment Management reduced its position in On Holding AG (NYSE:ONON) by 22.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,407 shares of the company’s stock after selling 13,567 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in ON were worth $1,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in ON by 5,888.9% during the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of ON during the third quarter worth $66,000. Resona Asset Management Co. Ltd. acquired a new position in shares of ON during the second quarter worth $83,000. CWM LLC lifted its holdings in shares of ON by 119.8% during the 3rd quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after purchasing an additional 1,520 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its holdings in shares of ON by 660.0% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 3,040 shares of the company’s stock valued at $129,000 after purchasing an additional 2,640 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON opened at $41.44 on Monday. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 57.55, a PEG ratio of 0.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The stock’s fifty day moving average price is $46.07 and its 200 day moving average price is $44.37. On Holding AG has a 1 year low of $34.38 and a 1 year high of $61.29.

Analyst Ratings Changes

ONON has been the topic of several research analyst reports. Stifel Nicolaus set a $58.00 target price on ON in a research note on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating on shares of ON in a research note on Friday, December 5th. JPMorgan Chase & Co. raised their price target on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research note on Wednesday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $65.00 price objective on shares of ON in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, ON has a consensus rating of “Moderate Buy” and an average price target of $59.41.

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.