Oppenheimer & Co. Inc. Sells 11,890 Shares of On Holding AG $ONON

Oppenheimer & Co. Inc. decreased its holdings in On Holding AG (NYSE:ONON) by 71.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,736 shares of the company’s stock after selling 11,890 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ON were worth $201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Winslow Capital Management LLC bought a new stake in shares of ON in the second quarter valued at approximately $248,113,000. Sands Capital Management LLC acquired a new position in ON in the 2nd quarter valued at $240,177,000. Bamco Inc. NY raised its holdings in ON by 3.3% in the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after acquiring an additional 132,756 shares in the last quarter. American Century Companies Inc. lifted its position in shares of ON by 29.4% during the 2nd quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after acquiring an additional 839,754 shares during the period. Finally, Norges Bank acquired a new stake in shares of ON during the 2nd quarter worth $138,641,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ONON shares. Zacks Research raised ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a report on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of ON from $71.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Morgan Stanley increased their price target on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, TD Cowen lifted their price objective on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Stock Performance

Shares of ONON stock opened at $48.05 on Friday. The stock has a market capitalization of $30.17 billion, a PE ratio of 62.40, a PEG ratio of 1.42 and a beta of 2.15. The business’s 50 day simple moving average is $46.52 and its 200 day simple moving average is $44.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. On Holding AG has a one year low of $34.38 and a one year high of $61.29.

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.