On Holding AG (NYSE:ONON) Shares Sold by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. lessened its stake in On Holding AG (NYSE:ONON) by 13.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,250 shares of the company’s stock after selling 1,592 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in ON were worth $514,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Private Trust Co. NA acquired a new stake in ON in the third quarter worth approximately $26,000. Blue Trust Inc. raised its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 3rd quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of ON in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ONON shares. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Robert W. Baird lifted their target price on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Williams Trading raised ON from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Hsbc Global Res raised ON to a “hold” rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group upped their price objective on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.05.

ON Stock Performance

Shares of ON stock traded down $0.21 during midday trading on Tuesday, reaching $58.26. 100,054 shares of the company’s stock traded hands, compared to its average volume of 4,923,756. The company has a market cap of $36.68 billion, a price-to-earnings ratio of 136.07 and a beta of 2.25. On Holding AG has a 52 week low of $25.78 and a 52 week high of $59.19. The company’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $44.27.

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.